Senate Committee on Banking, Housing and Urban Affairs heard several experts with expertise in stablecoins. They urged legislators to create a clear regulatory framework, but couldn’t seem to reach an agreement on the boundaries.

In a Tuesday hearing on “Stablecoins: How do They Work, How Are They Used, and What Are Their Risks?” Hilary Allen, a professor at the American University Washington College of Law, Alexis Goldstein, director of financial policy at Open Markets, Jai Massari, partner at Davis Polk & Wardwell, and Dante Disparte, chief strategy officer and head of global policy at Circle, addressed U.S. senators regarding some of the risks stablecoins may pose to the U.S. financial system and how lawmakers could handle regulating the space.