Barney Frank: “I think the Republican's chairman says it is as bad as the health care bill.”

Barney Frank said that he believed that it was a war on crypto that motivated this--not a systemic risk of crypto.

For example, there are key differences in product characteristics between payday, car title, and other high-cost secured loans and more traditional closed-end unsecured lending and related products, and the products are often regulated…

It was because they were banking crypto, not because they were insolvent.

Congress generally, and this subcommittee in particular has historically played a critical role in strengthening accountability at the World Bank.