English < Article List - DigitalToday

Search results for Consumer Bankers Association

Crypto

U.S. major banking groups oppose compromise on stablecoin bill

Major U.S. banking groups opposed a compromise provision in a crypto market structure bill on stablecoin returns, The Block reported on Sunday. The American Bankers Association and four other groups said the compromise by Senators Angela Alsobrooks and Thom Tillis falls short of the goal of banning yields and interest on stablecoins. The proposal would bar payments for simply holding stablecoins but allow activity- and transaction-linked rewards.

Crypto

U.S. banks-White House clash intensifies as stablecoin interest compromise becomes flashpoint

U.S. banking groups are broadening their Senate lobbying against a CLARITY Act compromise that would partly allow interest-like returns on stablecoins. The proposal being coordinated by senators Thom Tillis and Angela Alsobrooks would ban passive yield on stablecoin balances but allow activity-based rewards. The Consumer Bankers Association has challenged a White House-backed analysis on the effects of an interest ban. The White House has criticised banks’ additional lobbying, while the bill’s timetable remains unclear.