Bank of America lobbies to dethrone Tether and Circle
Bank of America is happy to pay lobbyists to convince the US government to pass laws and rules favoring bank-operated stablecoins.
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Bank of America is happy to pay lobbyists to convince the US government to pass laws and rules favoring bank-operated stablecoins.
Read more (2 min) →Tether has increasingly had to find political allies to continue growing and Howard Lutnick of Cantor Fitzgerald has been happy to oblige.
Through Britannia Financial, financier Julio Herrera Velutini has donated $625,000 to the Tories since Boris Johnson became prime minister.
Tether, Circle, and Paxos have all hired firms to lobby on their behalf in Washington DC but Coinbase still spends millions more.
At a House hearing, a draft of a new stablecoin bill was discussed along with the appropriate regulatory framework for stablecoins.