By Emir Abyazov Key highlights: Coinbase’s trust license plan sparks a sharp reaction from U.S. banks ICBA warns the exchange could struggle in bear markets Coinbase hits back, accusing bankers of protecting their turf Coinbase executives have criticized U.S. banks for opposing the cryptocurrency exchange’s effort to secure a national trust company license, a step […]
Tag: ICBA
By Emir Abyazov Key highlights: Banking groups warn stablecoin yield loophole risks $6.6 trillion deposit outflow. GENIUS Act bans direct stablecoin interest but loophole allows yield via affiliates. Banks fear stablecoins offering yield could destabilize credit and increase borrowing costs. US banking groups have urged Congress to close a loophole in the GENIUS Act, which […]