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Coalition says US stablecoin law shows 'sweeping disregard for state oversight'

By Neil Roland ( August 14, 2025, 19:22 GMT | Insight) -- An unlikely coalition asked the US Congress to fix a "flaw" in the new stablecoin law that lets any state-chartered, uninsured bank with a stablecoin unit perform traditional activities nationwide through that subsidiary, bypassing host-state licensing and allowing less state oversight. The assortment of banking, public interest groups, and state officials said in a letter yesterday that the “unprecedented overriding” of state supervision weakens consumer protections and creates opportunities for regulatory arbitrage.An unlikely coalition is asking US Congress to fix a "flaw" in the new stablecoin law that lets any state-chartered, uninsured bank with a stablecoin unit perform traditional activities nationwide through that subsidiary, bypassing host-state licensing and allowing less state oversight....

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