American Bankers Association CEO makes final-hour push for tightened limits on stablecoin rewards ahead of Senate committee vote

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The American Bankers Association CEO, Rob Nichols, is making a last-minute push for stricter limits on stablecoin rewards, sending a letter to bank executives days before a crucial Senate committee vote on crypto legislation. The letter urges banks to voice concerns over stablecoin risks, highlighting potential regulatory hurdles ahead for the crypto industry.