Banking Groups Slam Crypto Bill's Loopholes

Wall Street banks and community lenders issue a stern warning against the Clarity Act, a crypto bill. They argue new language gives crypto firms an unfair advantage, potentially harming traditional banks. The bill, proposed as a compromise by Senators Thom Tillis and Angela Alsobrooks, allows some stablecoin rewards but bans others. Banking groups now criticize the exceptions, suggesting crypto could exploit loopholes. With the Senates limited session before midterm elections, time is running out to resolve this rift. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/c380b25c1aedf388