Odaily Planet Daily News: Bank of America is lobbying for the formulation of stablecoin issuance rules that favor banks rather than technology companies. A high-stakes power struggle is currently taking place between traditional banks, technology giants and cryptocurrency companies such as Tether. According to people familiar with the matter, Bank of America mainly lobbies industry organizations such as the Bank Policy Institute and the American Bankers Association to urge lawmakers to formulate rules that favor the issuance of stablecoins by mature banks, while restricting commercial companies, such as large technology companies (non-banks) such as Amazon and Meta, from issuing dollar-backed crypto tokens. (The Block)