As Crypto Bill Passes, Bank Bosses Feel Heat

The crypto industry today scored its biggest win in Congress with the passage in the House of Representatives of the Genius Act. The bill, which the Senate cleared last month, legitimizes and regulates stablecoins, crypto tokens pegged to the U.S. dollar. President Donald Trump is expected to sign it quickly.

It’s a moment of rejoicing for crypto, which has bounced back from an excruciating downturn and regulatory crackdown under President Joe Biden’s administration. Now companies like Circle, whose stock has ridden the stablecoin boom, are aiming to disrupt traditional finance and payments—and big bank bosses are feeling the heat.

‍

Reporter Yueqi Yang sat down with Cross River’s Chief Compliance Officer, Benjamin Melnicki, to discuss our plans in the space. Read the full article here*: https://www.theinformation.com/articles/crypto-bill-passes-bank-bosses-feel-heat?rc=fmrh5u

^{*(Accessible with a subscription to their free newsletter, The Briefing)}