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πΊπΈ BIG: Fidelity backs the CLARITY Act, saying it provides a balanced approach and helps to βensure the U.S. remains a global leader in digital assets.β
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NEW: American Bankers Association CEO Rob Nichols sent a letter yesterday to bank CEOs across the country urging βimmediate engagementβ on stablecoin yield policy.
The banking lobby appears increasingly alarmed that stablecoins could allow Americans to earn meaningful yield outside the traditional banking system.
This letter comes ahead of Thursdayβs Senate Banking Committee markup of landmark crypto legislation.
One line from the letter drew particular attention:
βWe believe committee members may not be fully aware of the risks to the economy by the stablecoin loophole.β
However, this issue was extensively debated during negotiations around the GENIUS Act.
BREAKING: πΊπΈ President Trump says he is considering renewing "Project Freedom" in the Strait of Hormuz.
It will be part of a ''larger'' operation.
BAD FOR MARKETS...
BREAKING: πΊπΈ American Bankers Association are desperately trying to stop the Bitcoin & crypto market structure bill, Senator Bernie Moreno reveals.
"The banking cartel is in full panic mode," and are demanding bank CEOs "to lobby Senators and kill stablecoins" π€―