Last month the Senate published a discussion draft for crypto market infrastructure legislation, the Responsible Financial Innovation Act (RFI Act). Despite providing a short comment window of less than two weeks for feedback, the Senate has clearly been inundated with input. Links to several high profile responses are provided below, ranging from bank associations and bank regulators to securities regulators and web3 groups.
Banking associations are concerned about the offer of interest on stablecoins. While the recently passed GENIUS Act for stablecoins does not allow the payment of interest by stablecoin issuers, it doesn’t prevent crypto exchanges from making similar…
