S&P Global: Stabilized Coin Bill Will Give Banks a Competitive Advantage If It Passes

Ratings agency Standard Poor's Global Ratings says the latest stablecoin bill proposed in the U.S. Senate, if passed, could encourage banks to enter the stablecoin market. Tether may then decline as banks enter the market, SP Global said, adding that the new legislation, if passed, would limit issuance to a maximum of $10 billion for entities without a banking license, giving banks a competitive advantage.