Wall Street, billionaire Howard Lottenic, President Donald Trump's choice Trade Secretary and Notice bitcoin bullHe said during the Senate confirmation session on Wednesday that it would support government audits in Stablecoin reserves.

Lutnick Private Company, Cantor Fitzgerd, is currently returning to billions of dollars in assets that belong pregnancyThe largest stablecoin in the world. The world had to take the company's word for that, as no independent agency has achieved the amount of FIAT Currency Cantor on behalf of Tether.

During a tour of the interrogation today by Senator Maria Kaneuel (D-LA) about the lack of current regulations for Stablecoin reserves, Lutnick via his support for mandatory inspections of such stocks.

He said: "I think Stablecoins should be checked in US dollars, (and) should be fully supported by US Treasury bonds, 100 %."

When CantWell continued by asking whether the businessman believes that America should adopt a more striking stable -to -a -to -a -to -a -to -day backup audit, Lutnick replied: "Certainly."

Stablecoins like Tether It is said Commonly supported by billions of dollars in the value of the treasury. This support increases confidence that the symbols will remain loyal to its name and remain linked to the value of the US dollar. In the past, the non -domain stablecoins I was destroyed to scratchThe chaos is equivalent to the financial markets.

Looking at the current market value of Tether for 139 billion dollarsAnd the enlarged importance of Stablecoins Global economyThe theoretical collapse of the distinctive symbol due to the lack of a guarantee can spoil huge problems for the encryption industry.

In recent days, legislators, including Senator Elizabeth Warren, have expressed their concerns about Lootnick's nomination of the Minister of Commerce, given the popularity of the report. Between criminals.

"The support and financial participation record with Tether, and the relationships of that continuous company for illegal finance and criminal activity raises important questions about your personal ruling and conflicts of interests that you will get if you are confirmed as Minister of Trade", "Warren Books in A. letter Send to the billionaire earlier this week.

However, Warren did not attend a Lottenic confirmation session - she was busy Barbecue Robert F. Kennedy Junior for his candidacy to become the Minister of Health and Humanitarian Services.

In the absence of Warren, while Lootnick faced a question about Tether's connection to criminal organizations, he seemed to whisk easily.

In response to a question about this topic of Senator Canwell, on the pretext that Tether is very popular, and therefore it must be used by bad actors just like the United States: "It is similar to blame on Apple because criminals use Apple phones," said Lootnick, in response to a question about this topic from Senator Canlo, on the pretext that Tether is very popular, and therefore must be used by bad actors just like the United States. The dollar.

He also said that Cantor Fitzgerald has no royal rights to the rope.

Nevertheless, Lootnick clarified that he was confident that the United States government will be able to harness the tools of artificial intelligence that will continue "through Blockchain of Stablecoin" and "rid the world of criminals using Blockchain for illegal activity."

Ultimately, questions about Lutnick's relationship with tension did not take a secondary part of the session that takes hours, and did not appear on the candidate.

Canwell, the only Senator to ask Lootnick about digital assets on Wednesday, until she went out to clarify her support for the industry.

"I am a great encoding in general," I assured businessmen at the beginning of her interrogation.

Edit Andrew Hayouard