The banking industry is preparing to go to war over stablecoin politics.
A major coalition of the bank trade associations announced Monday evening that they were dissatisfied with a compromise brokered by Sens. Thom Tillis (R-N.C.) and Angela Alsobrooks (D-Md.) to restrict stablecoin yield and rewards.
The senators quickly fired back, saying in a joint statement that same night that the compromise was a “substantially improved, consensus-based product.”
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