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

According to Jinse Finance, US Senator Warren recently expressed concerns about Musk's plan to launch the payment platform X Money in April, stating that it could pose risks to consumer protection, national security, and the stability of the financial system. Warren pointed out that after acquiring and reshaping X, Musk is pushing it to become a "super app" covering "all aspects of users' financial lives," which could even replace the traditional banking system. She also questioned X's performance in 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 might weaken necessary regulatory constraints.