{"id":630,"date":"2025-05-23T07:19:56","date_gmt":"2025-05-23T07:19:56","guid":{"rendered":"https:\/\/bitunikey.com\/news\/us-banks-plot-joint-stablecoin-as-regulation-looms-over-crypto-sector\/"},"modified":"2025-05-23T07:19:57","modified_gmt":"2025-05-23T07:19:57","slug":"us-banks-plot-joint-stablecoin-as-regulation-looms-over-crypto-sector","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/us-banks-plot-joint-stablecoin-as-regulation-looms-over-crypto-sector\/","title":{"rendered":"US banks plot joint stablecoin as regulation looms over crypto sector"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">JPMorgan Chase, Bank of America and other major banks are reportedly exploring a shared stablecoin to keep pace with rising competition.<\/p>\n<p>Some of the biggest U.S. banks are exploring a plan to jointly issue a stablecoin as lawmakers move closer to approving new rules for digital assets, according to people familiar with the matter, the Wall Street Journal <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.wsj.com\/finance\/banking\/crypto-stablecoin-big-banks-a841059e\" target=\"_blank\">reported<\/a> Friday.<\/p>\n<p>Banks involved in early talks reportedly include JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo. The discussions also involve companies they co-own, such as Early Warning Services, which operates Zelle, and the Clearing House. These talks are still in the \u201cearly, conceptual stages and could change,\u201d the source said.<\/p>\n<p>One idea reportedly being discussed is to let other banks use the stablecoin. Some regional and community banks have reportedly also explored a separate stablecoin consortium, though details remain unclear.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>The news comes just days after the U.S. Senate voted to advance the GENIUS Act, a bill that would create a regulatory framework for stablecoins. The bill passed a key procedural vote 66-32 on Monday, May 19, clearing the way for full debate. It would require issuers to hold full dollar reserves, undergo audits, and follow extra rules for issuing over $50 billion in tokens.<\/p>\n<p>The U.S. President Donald Trump is also backing stablecoins. His advisor David Sacks said in a recent interview that regulation could bring \u201ctrillions of dollars of demand for our Treasuries practically overnight, very quickly.\u201d<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>JPMorgan Chase, Bank of America and other major banks are reportedly exploring a shared stablecoin to keep pace with rising competition. Some of the biggest U.S. banks are exploring a&hellip;<\/p>\n","protected":false},"author":1,"featured_media":631,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-630","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/630","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=630"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/630\/revisions"}],"predecessor-version":[{"id":632,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/630\/revisions\/632"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/631"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=630"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=630"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=630"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}