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U.S. Banks Push for Policy Changes on Stablecoin Yield Programs

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U.S. banks are pushing for changes to regulatory policy, focusing on stablecoin regulation under the GENIUS Act. They want to limit yield programs offered by non-bank stablecoin issuers, claiming these programs threaten traditional banking by pulling deposits. Crypto platforms may need to compromise on yield features to gain a regulated framework. The focus should be on settlement and programmable financial logic, not just interest-bearing assets.
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