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Why U.S. Banks Are Fighting Washington’s New Stablecoin Push
Apowerful banking lobby has pushed back against efforts to formally integrate stablecoins into the U.S. financial system. The Bank Policy Institute (BPI) sent four letters to the Office of the Comptroller of the Currency (OCC) opposing five national trust charter applications filed by major stablecoin issuers, including Ripple. According to Axios, the dispute centers on whether stablecoin firms should be allowed to operate under federal trust-bank charters, which traditional banks say give crypto companies an unfair shortcut to federal legitimacy. tweet Under the proposed Genius Act, stablecoin issuers must hold ... (full story)
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