Stablecoin Bill Faces Critical Warning: ABA Exposes Alarming Loopholes in GENIUS Act

BitcoinWorld Stablecoin Bill Faces Critical Warning: ABA Exposes Alarming Loopholes in GENIUS Act WASHINGTON, D.C. – March 2025. The American Bankers Association has issued a stark warning about significant regulatory gaps in proposed stablecoin legislation, creating renewed urgency for congressional action. This critical alert highlights potential consequences for the entire U.S. financial ecosystem, particularly affecting small businesses and traditional banking operations. Stablecoin Bill Faces Mounting Scrutiny The ABA recently sent a detailed letter to the U.S. Senate Banking Committee regarding the proposed stablecoin legislation known as the GENIUS Act. Consequently, this communication represents the banking industry’s most comprehensive response to the bill’s current framework. The association specifically targets provisions allowing interest-bearing stablecoins without establishing clear regulatory parameters. Industry analysts note this warning follows months of debate about digital asset regulation. Moreover, the Federal Reserve and Treasury Department have previously expressed concerns about similar issues. The stablecoin market has grown substantially...

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