GENIUS Act Bombshell? Banking Groups Demand Stablecoin Interest Loophole Close Before Cash Flees

Major U. S. banking trade groups are calling for Congress to block stablecoin issuers and affiliated firms from paying interest to token holders, warning that the practice could drain deposits from banks and reduce lending to households and businesses. In a joint statement published recently, organizations including the American Bankers Association, Bank Policy Institute, Consumer Bankers Association, […] source: https://cryptonews.com/news/genius-act-banking-groups-seek-stablecoin-yield-curb/