According to Nada News, in response to Democratic Senator Elizabeth Warren's statement in an interview with The New York Times that crypto assets are "of no benefit to the financial system and are still awaiting industry proof," crypto-friendly Republican Senator Cynthia Lummis publicly refuted this claim. She pointed out that stablecoins pegged to the US dollar allow employees to receive their salaries almost instantly after their employers transfer funds, greatly alleviating the pain points of those relying on wages for a living. In the area of cross-border remittances, traditional banks charge nearly 15% in fees for a $200 transfer and take several days to weeks, while digital assets can achieve seamless, instant arrival over weekends while significantly reducing fees. Furthermore, with the Democrats regaining a majority in the Senate in the midterm elections, Warren, who holds a critical stance on the crypto industry, is expected to become the chair of the Senate Banking Committee in January 2027. https://(wublock123.com)/news/lummis-refutes-warren-crypto-uselessness-stablecoins-payroll-remittance-71763