Community banks are advocating for amendments to the GENIUS Act, expressing that stablecoins can bypass interest bans through third parties. They stress the need for legislation to avoid risks to traditional banking savings and ensure clarity around stablecoin issuer relationships.
A representative from the Banking Policy Institute emphasized the importance of adapting regulations to foster financial innovation while ensuring consumer protection. The GENIUS Act was enacted in July 2025 and will be enforced in November 2026, following challenges posed to the sector.
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