U.S. Senator Sherrod Brown urges Senate Banking Committee to be wary of cryptocurrency risks before leaving office

Odaily Odaily Odaily report: U.S. Democratic Senator Sherrod Brown delivered his final remarks to the U.S. senators on the Senate Banking Committee before leaving office in January next year. In a notice on December 11, Brown issued a warning, which was part of the prepared remarks for the hearing before the next Congress and the inauguration of President-elect Trump. He stated that, based on Trump's nominations so far, corporate special interest groups will "ruthlessly exploit workers and customers." When talking about Trump, Brown said: "He is opening our government to the highest bidder." Those present have a responsibility to retain (the Consumer Financial Protection Bureau) and make it the only place where ordinary Americans can fight for them." He added: "The committee must be prepared for future struggles and challenges... from algorithmic pricing to artificial intelligence to cryptocurrencies. All these risks have one thing in common: they all have the potential to take money away from American workers... and channel it to what appears to be always the winning corporate elite." In November, Brown's re-election campaign was defeated by Republican Bernie Moreno. A political action committee funded by participants in the cryptocurrency industry, Fairshake, spent over $40 million on propaganda in the Senate race, which may have helped the Republicans win the Senate.