U.S. Banking Groups Urge Changes to Crypto Regulations

Leading U.S. banks are calling for updates to federal crypto and stablecoin rules, arguing that current regulations stifle innovation and hinder the industry’s ability to compete globally. The American Bankers Association (ABA) and Bank Policy Institute (BPI) highlight concerns about excessive regulation’s impact on their clients’ involvement in digital asset services. These groups believe a more flexible regulatory landscape is crucial for fostering growth in the financial sector.