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The banks demanded the exclusion for yield-bearing stablecoins in the GENIUS Act. Now they're upset that the language they asked for doesn't screw over stablecoin holders hard enough.
Sorry you guys did a bad job negotiating your regulatory moat. Try lobbying better next time!
20 tuntia sitten
🇺🇸 UPDATE: The Bank Policy Institute urged Congress to close the GENIUS Act stablecoin interest loophole to prevent deposit flight.
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