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Stablecoin turf wars: Bank of America, Tether and Circle battle to shape US rules

featureQuick Take Bank of America is lobbying for rules favoring banks over tech firms in stablecoin issuance. Circle is positioning itself as a compliant U.S. alternative to offshore giant Tether. Stablecoin legislation will determine who can legally issue dollar-backed tokens in the U.S. and what the rules of engagement are for those that can. Bank of America CEO Brian Moynihan’s statement that he’s prepared to issue a stablecoin if Congress provides a regulatory framework didn’t just grab hea...

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