CoinWorld news, on July 18 (UTC+8), U.S. Congressman Brad Sherman once again strongly criticized cryptocurrency stablecoins during a speech in Congress, stating that they are "neither stable nor currency," essentially calling them "interest-free money market accounts," and questioning their economic appeal. He pointed out that stablecoins evade anti-money laundering regulations, perfectly catering to the needs of drug dealers, human traffickers, sanction evaders, and tax cheats, labeling them as "tools for hiding assets." Sherman has previously held a fiercely opposing stance on crypto assets.