Bank Lobbyists Strike Out Against Clarity Act, Say Bill Would Risk ‘Flight of Bank Deposits’ Into Payment Stablecoins

The American Bankers Association (ABA) is pressing for big changes to the Clarity Act, claiming the crypto market structure bill could put bank deposits at risk of losing ground to stablecoins. Last week, the Senate Banking Committee announced it had scheduled a new markup session to consider the potential legislation. Over the weekend, ABA President […]
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