Global Stock News

Q&A: Why the ICBA is taking a more aggressive stance on crypto

Q&A: Why the ICBA is taking a more aggressive stance on crypto

WASHINGTON — Crypto interests are having a heyday in Washington, with Congress passing rules to govern the industry at breakneck speed and regulators welcoming their entry into the broader banking system. 

Processing Content

But community bankers want to make it known that crypto’s moment has come at a price. Senate Republicans refused to even vote on banks’ favored changes to a stablecoin yield provision in the fast-moving crypto market structure legislation, the CLARITY Act, during the bill’s markup last month. Regulators, for their part, are handing out a number of charters to nontraditional financial companies, which bank groups say amounts to those companies taking on traditional banking activities with much weaker…

Source link

Share this article

Scroll to Top