Citigroup CEO Jane Fraser said the bank wants a « good » Crypto Clarity Act to pass, though some improvements are still needed. U.S. lawmakers attempted to hold a vote before last week’s recess but ran out of time, pushing the vote to September. The main sticking point involves banking lobby concerns over crypto companies offering yield to customers holding stablecoins, with U.S. banks fearing deposit outflows to crypto exchanges. Coinbase withdrew its support for the bill in January. Major players including Fidelity, Goldman Sachs and politicians from both parties support the current form of the legislation.
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