U.S. Congress has called for the regulation of “stablecoins,” a type of cryptocurrency, following the sharp drop in price of Korean stablecoin TerraUSD.

According to Bloomberg, Senate Banking Committee chairman Sherrod Brown issued a statement on Wednesday emphasizing the need to regulate stablecoins, cryptocurrencies intended to have a fixed value. Terra was designed to maintain a one-to-one value with the U.S. dollar.

Brown said the drop in the coin’s value raises general questions about crypto and should be interpreted as a warning to be skeptical of the whole industry.

Senator Pat Toomey, the top Republican on the Senate Banking Committee, also said that if Congress does not act, there exists a danger that at some point a fiat-backed stablecoin might lose its “dollar peg,” which that could be very problematic for consumers who lose money and entail wider-reaching repercussions.

Treasury Secretary Janet Yellen also said on Tuesday that Terra's tumble illustrates that this is a rapidly growing product and there are risks to financial stability.

Terra is issued by blockchain firm Terraform Labs which was founded by CEO Do Kwon, a former engineer at Apple. It recently lost its peg to the U.S. dollar, also bringing down the price of its sister token Luna.