Crypto Advocacy Group Proposes Alternative Stablecoin Principles to Counter Wall Street's Lobbying Efforts

A coalition of cryptocurrency advocacy groups has presented a set of core principles for stablecoin legislation, directly challenging proposals backed by major Wall Street banks. The crypto collective emphasizes that any regulatory framework must prioritize consumer protection, ensure issuer accountability, and maintain the innovative and open nature of the digital asset ecosystem. This move is seen as a counter-lobbying effort to influence the ongoing stablecoin bill discussions in Congress, where traditional financial institutions have been actively pushing for regulations that favor their existing business models. The group argues that principles dominated by large banks could stifle competition and innovation in the rapidly evolving crypto space.