Alabama Lawmaker Raises Alarm On GENIUS Act’s Impact On Small Banks
Alabama State Senator Keith Kelley has warned that the GENIUS Act, signed into law on July 18, 2025, could trigger a wave of deposit outflows that would hurt rural community banks. Related Reading: Hong Kong’s HashKey Pushes Into Digital Asset Treasury With $500M Fund Plan According to reports, Kelley set out his concerns in an […]
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The American Bankers Association (ABA), along with 52 state bankers associations nationwide, has submitted a letter to the US Department of the Treasury, urging an implementation of the GENIUS Act’s prohibition on interest for payment stablecoins. This letter responds to the Treasury’s advance notice of proposed rulemaking concerning the country’s stablecoin bill and underscores the […]
Quick Facts: ➡️ GENIUS-era stablecoin rules push issuers toward bank-like reserves and oversight, reducing room for experimental designs and high-yield structures. ➡️ The Federal Reserve confirming the GENIUS Act’s stablecoin network guarantees increased exposure to crypto assets for a new batch of investors. ➡️ PEPENODE’s ($PEPENODE) virtual mining system and tiered node rewards transform traditional […]
The Federal Deposit Insurance Corporation (FDIC) has announced a new framework that outlines how banks can apply to issue payment stablecoins through subsidiaries as part of the implementation of the country’s stablecoin bill, the GENIUS Act. FDIC’s First Move On GENIUS Act In a statement, Acting Chair Travis Hill emphasized that the proposed process is […]
When President Donald Trump signed the GENIUS Act into law this past July, it marked a significant moment in the US legislative landscape, often heralded as the first comprehensive crypto bill aimed at fostering the growth and adoption of digital assets. However, a recent analysis raises questions about the true purpose of this legislation, suggesting […]
Fresh off the heels of Blockfi’s issues with the New Jersey Bureau of Securities, the company is now having problems in the state of Alabama. The director of the Alabama Securities Commission (ASC), Joseph Borg, explained on July 21 that he issued a show cause to the firm. Borg wants Blockfi to explain why the ASC should not copy New Jersey’s cease and desist as Alabama regulators also seem to believe they might be selling unregistered securities. Blockfi has received another order from the Texas State Securities (TSS) Board for the same reason. Alabama....