MrBeast's teen banking app crypto plan draws concern from US lawmaker

A U.S. congressman has voiced concerns over plans by Beast Industries, founded by global YouTuber MrBeast, to introduce cryptocurrency to its mobile banking app for teens, Step. According to Decrypt, U.S. House Representative Warren Davidson expressed worry over the company's ability to operate a financial technology firm targeting children and teenagers. He emphasized that Step encourages risky investments and pushes children to pressure their parents for permission to invest in crypto. In response, Beast Industries stated that it is reviewing all its products and marketing methods to ensure compliance with relevant laws and regulatory requirements, adding that it plans to continue communicating with Davidson.