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Two cryptocurrency groups are boycotting the American Bankers Association's amendment to the GENIUS stablecoin bill.
2025-08-20 11:59:39

Odaily Planet Daily News: The Blockchain Association and the Cryptocurrency Innovation Council condemned and resisted the American Bankers Association’s (ABA) request to amend the GENIUS Stablecoin Act. They pointed out: “Amending the provisions already contained in the GENIUS Act is unwise and will fundamentally weaken the legislative framework designed to encourage competition and democratize the benefits of advances in digital financial technology. This proposed change introduces a major policy shift that may have unintended consequences for the digital asset ecosystem and unnecessarily attempts to reimagine the provisions of the GENIUS Act that have already been passed into law.” (The Block)