Crypto groups accuse banks of attempting to ‘relitigate’ stablecoin law

Crypto groups accuse banks of attempting to ‘relitigate’ stablecoin law

Two prominent cryptocurrency groups are accusing banks of attempting to “relitigate” issues within the stablecoin bill that President Trump signed into law last month. The Crypto Council for Innovation (CCI) and Blockchain Association argued in a letter to leaders of the Senate Banking Committee on Tuesday that they should reject the push by banks to…

Crypto Lobby Pushes Back Against Bank Effort to Rewrite U.S. Stablecoin Law

The crypto industry is mounting a counteroffensive against Wall Street bankers’ bid to rewrite the U.S.’ new stablecoin law, arguing that attempts to roll back core provisions of the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act would tilt the field toward traditional banks.In a letter to Senate Banking Committee leaders dated Aug. 19, the Crypto Council for Innovation and the Blockchain Association urged lawmake…

Bankers Want Stablecoin Law Changed—Crypto Lobby Says No Way

Top banking associations have pushed the Senate to repeal key elements of the stablecoin law which threaten their business, via another crypto bill currently under debate.