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GENIUS Act to Ban Yield Stablecoins Will Stifle Crypto Innovation
Summary: According to reports, lawyer Jake Chervinsky stated on X platform that the GENIUS Act passed by Congress to ban yield stablecoins has handed over huge benefits to banks. This policy lacks reasonable justification from the beginning and stifles a whole category of innovative crypto products. Currently, banks are attempting to further disrupt market structure, with ...
According to reports, lawyer Jake Chervinsky stated on X platform that the GENIUS Act passed by Congress to ban yield stablecoins has handed over huge benefits to banks. This policy lacks reasonable justification from the beginning and stifles a whole category of innovative crypto products. Currently, banks are attempting to further disrupt market structure, with opposition to this move.
