Banking Groups Push for Stricter Stablecoin Rewards Rules Ahead of Senate Vote

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Eight major banking industry groups have called for tighter restrictions on stablecoin rewards programs. The demand was made public on Monday, intensifying the ongoing rivalry between traditional banks and the crypto sector. The move comes as the U.S. Senate prepares to vote on the Clarity Act, a key piece of stablecoin legislation. The banking groups aim to influence the bill's final shape before it advances through Congress.

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