Battle between big banks and big crypto heats up over new regulatory bill

Regulatory Landscape - The crypto industry and banks are in disagreement over a bill regulating crypto, leading to discussions in DC [1] - Banks are advocating for restrictions on crypto exchanges, specifically regarding rewards programs that resemble interest payments, which were previously addressed in stablecoin legislation [2] - Lawmakers are expected to further discuss and vote on the bill in the coming months [4] Market Impact - A Treasury Department report indicates that $6.6 trillion (6.6 万亿美元) could shift from bank deposits to stablecoins, driven by consumers seeking higher returns [3] - Banking advocacy groups are concerned that this shift could constrict capital flow [3] Industry Stance - Coinbase aims to enhance economic freedom and modernize the financial system through crypto [2] - JP Morgan Chase acknowledges the need for thoughtful regulation of crypto [4]