The GENIUS Act and the National Bank Acts of 1863-64: Taking a Cue From Lincoln

The GENIUS Act and the National Bank Acts of 1863-64: Taking a cue from Lincoln

This month Congress passed the GENIUS Act, an acronym for the "Guiding and Establishing National Innovation for U.S. Stablecoins of 2025." Designed to regulate stablecoins, a category of cryptocurrency designed to maintain a stable value, the Act is highly controversial. Critics variously argue that it anoints stablecoins as the equivalent of "programmable" central bank digital currencies (CBDCs), that it lacks strong consumer protections, and t…

Bank trades take aim at stablecoin interest 'loophole'

Bank groups, especially those representing the largest institutions, did little in the way of a public campaign against the provisions in the stablecoin bill that could disintermediate traditional banking, but are picking up steam for the upcoming market structure fight.

Bank Groups Urge US Senate to Close Gaps in Country's New Stablecoin Law

The American Bankers Association, the Bank Policy Institute, and over 50 state banking groups warned of massive deposit flight risk.

GENIUS Act Stablecoin Yield Loophole Sparks US Bank Concerns

According to sources, the GENIUS Act stablecoin yield loophole leaves a major gap in U.S. financial oversight. The group, backed by the American Bankers Association and the Consumer Bankers Association, told Congress that although the law stops stablecoin issuers from paying interest. It doesn’t stop related exchanges or partner companies from doing it. They warned this could weaken the safeguards Congress wanted and give companies a clear way a…

US Banking Groups Call for Stricter Rules on Stablecoin Yields in GENIUS Act

US Banking Groups Call for Stricter Rules on Stablecoin Yields in GENIUS Act Major US banking associations are calling on regulators to address an alleged loophole in the proposed GENIUS Act.

GENIUS Act Loophole Could Drain Banks, Says BPI

A group of major US banking associations is asking Congress to address a gap in the new GENIUS Act that could let stablecoin companies offer returns through outside partners.