CoinVoice has learned that lawyer Jake Chervinsky posted on the X platform stating that Congress passed the GENIUS Act, which bans yield-bearing stablecoins and has ceded significant benefits to banks. This policy has no valid reason from the start and stifles an entire category of innovative crypto products. Currently, banks are attempting to further disrupt the market structure, and they oppose this move.
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CoinVoice has learned that lawyer Jake Chervinsky posted on the X platform stating that Congress passed the GENIUS Act, which bans yield-bearing stablecoins and has ceded significant benefits to banks. This policy has no valid reason from the start and stifles an entire category of innovative crypto products. Currently, banks are attempting to further disrupt the market structure, and they oppose this move.