Mars Finance News: Bank of America is lobbying to establish stable coin issuance rules that favor banks rather than tech companies, and a high-stakes power struggle is currently unfolding between traditional banks, tech giants, and cryptocurrency companies like Tether. According to informed sources, Bank of America is primarily lobbying through banking policy research institutes and the American Bankers Association, urging legislators to create rules that favor established banks issuing stable coins while restricting commercial companies such as Amazon and Meta (non-bank tech giants) from issuing dollar-backed crypto tokens. (The Block)
US banks begin lobbying for stablecoin issuance rules that favor banks over tech firms
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