American Bankers Attempt Last Ditch Effort To Kill Crypto Market Structure Bill Regarding Stablecoins

The American Bankers Association is attempting to kill a bill regarding stablecoins, prompting pushback from crypto industry leaders. The bill, known as the Digital Asset Market Clarity Act, aims to establish a federal regulatory framework for digital assets. The ABA claims that the bill would incentivize the flight of bank deposits into payment stablecoins.