US Banking Groups Demand Stability Changes in Crypto Regulation

Banking associations and consumer advocates are urging lawmakers to revise the GENIUS Act, a bill aimed at regulating stablecoins. The request aims to address concerns about competitive advantages granted to state-chartered banks. These groups want changes to prevent undue benefits for these institutions. 52 organizations have called on the Senate Banking Committee to consider amendments that would limit these advantages and pave the way for broader cryptocurrency regulations. !