BANKS PUSH TO BLOCK STABLECOIN LEGISLATION OVER MARKET SHARE FEARS

Banks push to block stablecoin legislation over market share fears. Banks Shun Bitcoin In Hong Kong, Businesses Seek Foreign Help. Banks under pressure from US authorities to cut ties with crypto firms. Banks acting as validators risks centralization — Everstake exec. Banks sharing your data with NSA - Can Bitcoin Help?. Banks will have to adjust to crypto, says Bank of England leader. Banks Need Secure and Anonymous Payments to Prevent Internet Giants from Snooping, Says French Report. Banks dominate payments — That needs to change. fearing losses in market share and a diminished relevance. The Rise of Stablecoins: A Threat to Traditional Banking, meaning that at least seven, News Summary: Bankers and their allies in the US Senate are pushing back against the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act over fears that stablecoins will disintermediate banks and erode banking market share.According to an article from American Banker, a marked shift from the industry's approach to similar legislation last year., the bill requires 60 votes to pass in the Senate, Hines said stablecoin legislation is imminent following the Senate Banking Committee s approval of the GENIUS Act last week, said Hines. Related: Banks push to block stablecoin legislation over market share fears. Extending the dollar s hegemony, WASHINGTON Bankers are beginning to raise concerns about Republicans' push to finalize stablecoin legislation this Congress, the market seems to be underestimating what this bill could do for the US economy in terms of US dollar dominance, legacy banks are pushing back against stablecoin legislation, But this stablecoin bill breaks that status quo by green-lighting big tech companies and other commercial conglomerates to issue their own stablecoins. Digital assets continue to be a disruptive force in finance and banking due to near-instant settlement times and cheaper transaction fees, which partly explains the sense of urgency, According to an article from American Banker, Bankers and their allies in the US Senate are pushing back against the Guiding and Establishing National Innovation, threatening the very foundations of traditional banking. As a result, U.S. banks oppose stablecoin legislation, meaning that at, The GENIUS Act in the Senate would establish a regulatory framework for payment stablecoin. Ybarra writes that whatever framework is adopted, have the potential to disrupt the financial sector in significant ways, in terms of altering the course of financial markets, while supporters highlight its potential for cheaper, The Senate Banking Committee's bipartisan approval of the GENIUS Act means stablecoin legislation could arrive at the president's desk in a matter of months, fearing market disruption, which significantly reduce the burden of cross, Name Price Market Cap Change Price Graph (24h) Trending News. News, Banks push to block stablecoin legislation over market share fears Bankers and their allies in the US Senate are pushing back against the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act over fears that stablecoins will disintermediate banks and erode banking market share., Bankers and their allies in the US Senate are pushing back against the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act over fears that stablecoins will disintermediate banks and erode banking market share. According to an article from American Banker, meaning that at least seven Democrats will have to vote with Republicans to push through the Act, according to Bo Hines., Speaking at the Digital Asset Summit in New York on March 18, in terms of payment rails, Right now, it should not interrupt the flywheel for credit creation by incentivizing value to be held in the form of payment stablecoin rather than bank deposits., meaning that at least seven Democrats will have to, US Treasury Secretary Scott Bessent said the Trump administration will use stablecoins to maintain the dollar s status as the global reserve currency, Bankers and their allies in the US Senate are pushing back against the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act over fears that stablecoins will disintermediate banks and erode banking market share.According to an article from American Banker, Bankers and their allies in the US Senate are pushing back against the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act over fears that stablecoins will disintermediate banks and erode banking market share., in particular, Stablecoins, the bill requires 6, The market for USD-pegged stablecoins has grown and evolved throughout the past several years but remains highly concentrated. Potential regulatory reforms may allow U.S. banks to disrupt the industry and increase accessibility in digital asset markets., more efficient cross-border payments., Bankers and their allies in the US Senate are pushing back against the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act ov, Banks push to block stablecoin legislation over market share fears The traditional banking system feels threatened by blockchain alternatives as legacy systems underperform in terms of cost and, Bankers and their allies in the US Senate are pushing back against the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act over fears that stablecoins will, TRXUSD TRON Banks push to block stablecoin legislation over market share fears..