Wall Street Joins Consumer Advocates to Call for Edit to GENIUS Act on Stablecoins
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最新报道：Wall Street bankers and consumer advocacy groups are jointly opposing key provisions of the newly enacted GENIUS Act, a U.S. stablecoin law. In a letter to senators, the American Bankers Association and Americans for Financial Reform warned that the law allows state-chartered uninsured institutions to bypass state licensing for nationwide money transmission, risking regulatory arbitrage. Separately, banking groups expressed concerns that crypto firms could indirectly offer stablecoin yields, potentially diverting deposits from traditional banks. While President Trump signed the GENIUS Act, bankers are pushing for revisions before broader crypto market legislation progresses.
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