A Senate amendment targeting credit card fee dominance risks derailing Trump’s stablecoin bill. Retailers support this amendment aiming for lower fees, but key Republican senators threaten to withdraw support if it remains. Banks and payment companies are intensifying opposition.
The GENIUS Act, advocating for federal oversight of stablecoins, is gaining traction amidst the pushback. Crypto advocates and President Trump see potential gains in this legislation, yet opposition to the credit card amendment continues, risking bipartisan support.
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