Crypto industry presses Senate Banking panel to reject efforts to expand limits on stablecoin rewards

Several leading cryptocurrency companies and trade groups urged lawmakers on the Senate Banking Committee on Thursday to reject efforts to add new limits on stablecoin rewards in upcoming legislation. In a letter led by the Blockchain Association, more than 125 crypto industry players argued against a push to “reinterpret and expand” an existing prohibition on stablecoin interest in the GENIUS Act. Among the signatories are the Bitcoin Policy Institute, Crypto…