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  1. The House passed a crypto market structure bill while Trump championed federal stablecoin legislation awaiting Senate consideration.
  2. The Senate passed a Stablecoins bill, leading to increased competition and momentum in the digital currency space.

Banks, including JPMorgan Chase, are lobbying the Senate to ban yield-generating stablecoins, warning that such yields could cause a shadow banking crisis.

2 reports, 2 independent Updated Jul 14
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What happened

Some supportReported by 2 outlets

Banks, including JPMorgan Chase, are lobbying the Senate to ban yield-generating stablecoins, warning that such yields could cause a shadow banking crisis.

Who's involved

What this event is mainly about
American Bankers AssociationsenateJPMorgan Chase

How it developed

Newest first. Tap a step to see who reported it.
  1. Lobbying efforts intensify as banking groups demand specific provisions and banking charters within the Clarity Act.1 source
  2. Banks warn stablecoin yields could cause a shadow banking crisis, prompting Senate compromise.1 source

Keep exploring

Part of

The Senate passed a Stablecoins bill, leading to increased competition and momentum in the digital currency space. All 1 developments

Within The House passed a crypto market structure bill while Trump championed federal stablecoin legislation awaiting Senate consideration.

The entities involved

Coverage

Newest first; wire copies grouped