News Explorer — Trade Group Urges Regulators to Block Sony's Crypto Banking Move

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Nov 14, 10:41 am

Decrypt

Trade Group Urges Regulators to Block Sony's Crypto Banking Move

The ICBA has urged regulators to reject Sony Bank's application for a national trust charter to issue stablecoins, citing concerns about regulatory loopholes and potential consumer harm. Sony Bank's proposed subsidiary, Connectia Trust, aims to provide digital asset custody services and issue dollar-pegged stablecoins.

The ICBA has urged regulators to reject Sony Bank's application for a national trust charter to issue stablecoins, citing concerns about regulatory loopholes and potential consumer harm. Sony Bank's proposed subsidiary, Connectia Trust, aims to provide digital asset custody services and issue dollar-pegged stablecoins.

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