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US banks lobby to amend GENIUS stablecoin Act, citing $6.6 trillion risk
The first official US stablecoin law, known as the GENIUS Act, is already facing pushback from major banking groups that argue some provisions could destabilise the traditional financial sector. Passed in July 2024, the legislation was intended to bring clarity to the multibillion-dollar stablecoin industry while securing the country’s leadership in digital assets. However, banks warn that the restrictions on paying interest to stablecoin holders could divert vast sums away from deposits, threatening balance sheets. On 25 August, the Financial Times reported that banking groups have begun lobbying lawmakers to ... (full story)
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From youtube.com/cnbctelevision|Aug 25, 2025On today's episode of CNBC Crypto World, ether pulled back to start the week, after hitting a fresh record over the weekend. And, crypto exchange Gemini launches an XRP credit ...
From gobankingrates.com|Aug 25, 2025|1 commentBitcoin is a popular cryptocurrency that many may look to in order to get rich. But is that actually feasible? GOBankingRates asked Grok, an artificial intelligence (AI) tool with ...
From fxstreet.com|Aug 25, 2025Ethereum treasury firm BitMine Immersion extended its lead as the largest corporate treasury of the top altcoin after acquiring 190,500 ETH last week, per a statement on Monday. ...
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From @LiveSquawk|Aug 25, 2025|133 commentsUS Pres Trump Removes Fed's Cook From Position, Effective Immediately – TSL pic.twitter.com/iwq563ZY4H TRUMP REFERENCES MORTGAGE-RELATED ACCUSATIONS IN MESSAGE TO FED’S COOK. Trump says he is removing Fed Governor Lisa Cook from her position in a post on his social media account pic.twitter.com/gLo3aYVH4y
From @realDonaldTrump|Aug 25, 2025|53 comments
As the President of the United States, I will stand up to Countries that attack our incredible American Tech Companies. Digital Taxes, Digital Services Legislation, and Digital Markets Regulations are all designed to harm, or discriminate against, American Technology. They also, outrageously, give a complete pass to China's largest Tech Companies. This must end, and end NOW! With this TRUTH, I put all Countries with Digital Taxes, Legislation, Rules, or Regulations, on notice that unless these discriminatory actions are removed, I, as President of the United States, will impose substantial additional Tariffs on that Country's Exports to the U.S.A., and institute Export restrictions on our Highly Protected Technology and Chips. America, and American Technology Companies, are neither the “piggy bank” nor the “doormat” of the World any longer. Show respect to America and our amazing Tech Companies or, consider the consequences! Thank you for your attention to this matter.DONALD J. TRUMP, PRESIDENT OF THE UNITED STATES OF AMERICA
From cnbc.com|Aug 25, 2025|11 commentsPresident Donald Trump on Monday fired Federal Reserve Governor Lisa Cook, according to a letter on his Truth Social, an unprecedented move and a significant escalation of his ...
