As Crypto’s Power Grows, Wall Street Braces For a Washington Showdown

As Crypto’s Power Grows, Wall Street Braces For a Washington Showdown

An escalating lobbying conflict is unfolding in Washington as traditional banking entities and cryptocurrency companies vie for regulatory favor.

Wall Street faces a reckoning in Washington as crypto influence grows

Powerful Wall Street groups are trying to pump the brakes on some GOP proposals that seek to boost the crypto industry.

Banking Sector Campaigns Against Loophole in Stablecoin Law

Banks are reportedly campaigning to close what they call a loophole in newly adopted stablecoin legislation. Industry groups such as the American Bankers Association, the Bank Policy Institute and the Consumer Bankers Association are warning that the legislation contains language that will allow some cryptocurrency exchanges indirectly pay interest to stablecoin holders, the Financial Times reported Monday (Aug. 25). Under the GENIUS A…

Wall Street faces a reckoning in Washington as crypto influence grows – POLITICO

Powerful Wall Street groups are trying to pump the brakes on some GOP proposals that seek to boost the crypto industry. Big bank CEOs testify … Source link The post Wall Street faces a reckoning in Washington as crypto influence grows – POLITICO first appeared on Crypto News Wire.