Banks lobby to close loophole for stablecoin interest over deposit flight risk

1 hour ago 1
Stablecoin

JLGutierrez

Banks are lobbying for a change to the new stablecoin legislation in the U.S., warning that a loophole in the regulation risks trillions of dollars worth of bank deposit outflows.

The landmark GENIUS Act, which establishes a regulatory framework for stablecoins, contains

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