# Lobbying Related Articles

HTX News Center provides the latest articles and in-depth analysis on "Lobbying", covering market trends, project updates, tech developments, and regulatory policies in the crypto industry.

Blockchain Association Rejects Proposal To Widen Stablecoin Yield Restrictions

The Blockchain Association, along with over 125 crypto and fintech groups, is urging Senate Banking leaders to oppose efforts to expand a ban on stablecoin yields beyond what is explicitly stated in the GENIUS Act. The law prohibits stablecoin issuers from paying yields directly to holders but allows third-party platforms to offer rewards. The association argues that broadening the ban would harm competition and innovation, favoring larger financial firms. In contrast, banking groups, led by the American Bankers Association, are pushing for the ban to extend to partners and affiliates, warning that stablecoin rewards could circumvent the law and drain trillions from traditional bank deposits. The debate centers on consumer protection, financial stability, and the future competitive landscape of digital payments. Senate Banking staff are reviewing both sides as they consider potential legislative clarifications.

bitcoinist12/21 13:01

Blockchain Association Rejects Proposal To Widen Stablecoin Yield Restrictions

bitcoinist12/21 13:01

Blockchain Association says no to expanding stablecoin yield prohibition

The Blockchain Association, along with over 125 crypto industry groups, has written to the US Senate Committee on Banking opposing a proposed expansion of the ban on offering yield rewards to stablecoin holders. The letter argues that extending the prohibition—originally targeting stablecoin issuers under the GENIUS Act to include third-party platforms—would stifle innovation, increase market concentration, and unfairly disadvantage crypto services compared to traditional financial providers like banks and credit card companies that offer similar rewards. The Association contends that stablecoin rewards help consumers offset inflation and are a standard feature of competitive markets. It also challenges banking industry claims that yield-bearing stablecoins threaten bank lending, stating there is no evidence to support such concerns. Additionally, the letter comes as the FDIC proposes rules allowing banks to issue stablecoins through subsidiaries, subject to reserve requirements and regulatory oversight.

cointelegraph12/19 21:06

Blockchain Association says no to expanding stablecoin yield prohibition

cointelegraph12/19 21:06

Crypto Industry Voices Opposition To Potential Limits On Stablecoin Rewards In Legislation

A coalition of cryptocurrency firms, led by the Blockchain Association, is urging the Senate Banking Committee to reject provisions in the recently passed GENIUS Act that could restrict stablecoin rewards. The legislation currently prohibits stablecoin issuers from offering interest but allows third-party platforms to provide rewards. The banking industry argues this is a loophole that could lead to deposit outflows, while crypto advocates maintain the law strikes a necessary balance for competition. They challenge the banks' claims, citing a lack of evidence linking stablecoins to reduced bank lending and accusing them of protectionism. Democrats suggest a compromise is possible to protect the banking system while permitting rewards.

bitcoinist12/19 14:40

Crypto Industry Voices Opposition To Potential Limits On Stablecoin Rewards In Legislation

bitcoinist12/19 14:40

Why the Crypto Bill could stall before 2026 U.S. midterm elections

The Crypto Market Structure Bill faces potential delays ahead of the 2026 U.S. midterm elections, with Democrats possibly stalling negotiations into late Q1 or beyond to appease crypto lobbyists while avoiding conflict with banks or party leadership. Key contentious issues include DeFi oversight, stablecoin rewards, and ethics related to Trump family crypto interests. Traditional banks and entities like Citadel Securities are pushing for stricter regulations, while the crypto industry seeks exemptions. The banking lobby plans to spend over $100 million to elect pro-bank candidates, setting up a sector clash before the midterms. Despite election concerns, there is a 77% chance the bill becomes law before 2027.

ambcrypto12/18 14:02

Why the Crypto Bill could stall before 2026 U.S. midterm elections

ambcrypto12/18 14:02

Kalshi Teams Up with Coinbase, Robinhood, and Others to Form Prediction Market Alliance, Aiming to End the 'Casino' Argument

Kalshi, a leading prediction market platform, has formed the Coalition for Prediction Markets (CPM) alongside major platforms including Coinbase, Robinhood, Crypto.com, and Underdog. This move is a strategic response to increasing regulatory pressure and opposition from traditional gambling lobbyists, particularly following legal challenges in states like Connecticut and Nevada. The coalition aims to advocate for the prediction market industry, counter misinformation, and push for federal-level regulation, arguing that prediction markets are distinct from gambling. They emphasize that prediction markets generate valuable public information, outperform traditional polls by approximately 30%, and are used by nearly half of Americans under 45. With the industry valued at $28 billion as of October and platforms like Kalshi and Polymarket each exceeding $10 billion in valuation, the sector is expanding rapidly. Kalshi’s CEO, Tarek Mansour, asserts that attacks from gambling interests are motivated by profit protection rather than consumer safety. The CPM will focus on promoting transparency, market integrity, and customer protection while leveraging federal jurisdiction to overcome state-level regulatory obstacles. This development signals the maturation of prediction markets as a significant new internet-driven sector, potentially surpassing traditional gambling in relevance and utility.

Odaily星球日报12/12 10:42

Kalshi Teams Up with Coinbase, Robinhood, and Others to Form Prediction Market Alliance, Aiming to End the 'Casino' Argument

Odaily星球日报12/12 10:42

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