Similarly, Rep. Waters highlighted the risks of stablecoins earlier this year, saying, "investigations have shown that many of these so-called stablecoins are not, in fact, backed fully by reserve assets,"
Wait until she finds out banks have no reserve assets.
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I would love to see you try to explain to her balance sheet banking how the monetary system is simply a ledger.
That would be must see tv.
What is ironic is that crypto can be held by the masses and used in the general economy. Fed reserves are specific tokens only for isolated banks.
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Waters is a Zombie in her 105th term in Congress. She's just reading cards and going to wellness in DC.
Wait until she finds out she's an idiot. Wait, never mind, that'll never happen. She's one of the excuses for term limits - in Congress for thirty years.