American Bankers Association
Bank of America CEO says stablecoins could drain trillions in bank deposits
BofA CEO Brian Moynihan echoed other banks in warning that $6 trillion in bank deposits were at stake, even as he said the bank will “be fine.”
JPMorgan downplays stablecoin threat as local bankers warn of $6.6 trillion risk
The ABA sent a letter to the U.S. Senate, saying stablecoins that offer yields will affect its banking members ability to grant loans, but JPMorgan disagrees.
Wall Street Joins Consumer Advocates to Call for Edit to GENIUS Act on Stablecoins
U.S. bankers are pushing hard for revisions of the new stablecoin law even before regulators have begun the first steps of writing the rules.
Wall Street Asks Biden Not to Veto Congress' Rejection of SEC Crypto Policy
Lobbying groups for the U.S. banks sent President Joe Biden a letter asking him to change his mind on his threat to veto the congressional effort to overturn SAB 121. Members of Congress did, too.
The Significance of Kraken’s Potential Fed Master Account
Kraken Bank, a subsidiary of crypto exchange Kraken, recently received a routing number from the American Bankers Association as part of its efforts to eventually establish as a regulated bank. “The Hash” hosts discuss how this announcement relates to Kraken’s appointment of a new CFO and possible IPO rumors.
Banking Trade Group Proposes Database for US Bitcoin Companies
The proposals were submitted to the Conference of State Bank Supervisors following its publication of a draft framework for bitcoin licensure.
