CryptoBearishDaily Hodl · May 127/10
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Bank Lobbyists Strike Out Against Clarity Act, Say Bill Would Risk ‘Flight of Bank Deposits’ Into Payment Stablecoins
The American Bankers Association is opposing the Clarity Act, a Senate crypto market structure bill, arguing it would enable a 'flight of bank deposits' into payment stablecoins. The ABA submitted formal concerns as the Senate Banking Committee prepared to markup the legislation, highlighting tensions between traditional banking and emerging cryptocurrency alternatives.
