Coinworld News: Lawyer Jake Chervinsky posted on the X platform stating that Congress's passage of the GENIUS Act banning yield-bearing stablecoins has already ceded enormous interests to banks. This policy has had no reasonable justification from the start and stifles an entire category of innovative crypto products. Banks are currently attempting to further disrupt market structure, and he expressed his opposition to this.
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Coinworld News: Lawyer Jake Chervinsky posted on the X platform stating that Congress's passage of the GENIUS Act banning yield-bearing stablecoins has already ceded enormous interests to banks. This policy has had no reasonable justification from the start and stifles an entire category of innovative crypto products. Banks are currently attempting to further disrupt market structure, and he expressed his opposition to this.