#CNBC Blockchain Association sends letter to Congress defending GENIUS Act

Blockchain Association sends letter to Congress defending GENIUS Act
Blockchain Association CEO Summer Mersinger discusses a letter the association sent to Congressional leaders arguing that the GENIUS Act is under attack from Big Banks who want to unravel the law to better protect their businesses. The letter comes after bank advocacy groups warned that allowing rewards for stablecoins through crypto exchanges, a provision in the GENIUS Act, will lead to a rush of customers yanking funds from community banks.

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