Senator Sherrod Brown seeks more information from Tether, Coinbase about crypto risks

U.S. Senate Banking Committee Chairman Sherrod Brown sends out letters to executives at stablecoin issuer Tether (USDT-USD) and crypto exchanges Coinbase (NASDAQ:COIN) and Binance.US, as well as five other companies, to find out more information regarding the risks surrounding digital tokens. Brown asks for details about the size of the digital coin market, how these tokens are converted into U.S. dollars and how consumers exchange cryptos, according to the letter. "The complex terms and conditions applicable to digital assets and stablecoins, as well as the need for reliable and resilient underlying networks, can make it difficult for investors and consumers to fully uderstand the details of how those assets function and their potential risks," he writes. Brown expects a response by Dec. 3 of this year. In addition, shortly after the President Working Group's "crypto sprint," which clarifies how crypto-related banking services can work around an evolving regulatory framework, Brown