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Banks push to block stablecoin legislation over market share fears

Coin Telegraph LogoCoin Telegraph1d ago

Banks push to block stablecoin legislation over market share fears - Coin Telegraph

Quick Summary:

But this stablecoin bill breaks that status quo by green-lighting big tech companies and other commercial conglomerates to issue their own stablecoins.”Digital assets continue to be a disruptive force in finance and banking due to near-instant settlement times and cheaper transaction fees, which significantly reduce the burden of cross-border payments and introduce peer-to-peer transactions.

Shortly after the bill was introduced to the US Senate, Federal Reserve Bank Governor Christopher Waller said non-banks should be allowed to issue stablecoins.

Waller argued that stablecoins could expand payment use cases, particularly in the developing world, due to their cost-savings and efficiency.Stablecoin fees vs.legacy payment processing solutions.

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Article Details

Author / Journalist: Cointelegraph by Vince Quill

Category: Crypto

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-13 @ 18:29:29 (1 days ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 416 words

Reading Time: 3 minutes read

Sentences: 16 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 26978449

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About Coin Telegraph

Coin Telegraph Logo

Main Topics: Crypto

Official Website: cointelegraph.com

Update Frequency: 908 posts per day

Year Established: 2013

Headquarters: United States

News Last Updated: 8 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #11

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  • URL: https://chronographically.beamstart.com/news/banks-push-to-block-stablecoin-17419298008578

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