US Senator Warren warns that X Money may pose a threat to financial stability

According to Golden Finance, US Senator Warren recently expressed concerns about Musk's planned launch of payment platform X Money in April, stating that it may pose risks to consumer protection, national security, and financial system stability. Warren pointed out that Musk, after acquiring and reshaping X, is pushing it to become a "super application" that covers "users' entire financial lives" and may even replace the traditional banking system. She also questioned the performance of X platform in terms of security and content governance, and criticized the GENIUS Act promoted by the Trump administration for providing a "special channel" for private companies to issue stablecoins, which may weaken necessary regulatory constraints.