CoinOtag
2025-12-28 01:28:45

Banks Reportedly Lobby to Revise GENIUS Act Stablecoin Interest Provisions

Banks are lobbying to amend the GENIUS Act, seeking to reverse a settled compromise on stablecoin interest payments due to claimed safety concerns. Critics, including Coinbase CEO Brian Armstrong, argue this protects banks' profit margins from competition, as banks earn high interest on deposits while paying customers minimal rates. Banks claim lobbying protects community bank [...]

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