Banks Want More: Trade Groups Demand Stricter Stablecoin Limits in Clarity Act
Banks Want More: Trade Groups Demand Stricter Stablecoin Limits in Clarity Act
The letter renewed demands made by six banking trade groups in May, including restrictions on rewards tied to account balances and adoption of a "substantially similar" standard.
The dispute has since spread to senators' home states, where community bankers have pushed for tighter restrictions and crypto advocates have rallied support for the bill. Crypto firms argue that stablecoin rewards should remain available and that the industry needs clearer federal rules.
This article has been published in yahoo.com via Yahoo News.
Banks Want More: Trade Groups Demand Stricter Stablecoin Limits in Clarity Act
Eight trade associations say exceptions for interest-like rewards could pull deposits from banks and reduce lending.
finance.yahoo.com
