American Bankers Association Pushes Treasury To Enforce GENIUS Act’s Stableco...
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 […]
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American bankers are urging the US Treasury Department to enforce the prohibition on interest for payment stablecoins in the GENIUS Act. In response, cryptocurrency exchange Coinbase, has called on the Treasury to ensure that the forthcoming regulations align with Congress’s original intentions regarding the act. Coinbase Pushes Back On GENIUS Act’s Interest Restrictions According to […]
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 […]
The United States Treasury Department has opened a request for public comment on the implementation of the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act. The GENIUS Act, signed into US law in July, was designed to provide a regulatory framework for stablecoin issuers. This latest call for public input comes exactly a […]
The International Ripple Business Association (IRBA) has recently relaunched with a new website. The IRBA is a non-profit 501(c)(3) organization that focuses on promoting business activity that is built into the Ripple protocol. The IRBA provides guidance to businesses based on the principals used by the American Bankers Association, and the Asian Bankers Association. Special gateways allow the movement of funds to and from Ripple. The gateway acts as an entry point to the Ripple ecosystem, allowing individuals to deposit their funds directly on the network. The IRBA has certified fifteen....
The US Treasury Department is putting the GENIUS Act into action with a 60-day comment period to gather ideas on detecting illicit crypto activity. By establishing a stablecoin framework and seeking input, the Treasury is working to shape the Web3 sector. Under Trump, their ultimate ambition is to bolster crypto innovation safely. Such regulatory clarity […]