ChainCatcher News, the American Bankers Association (ABA) and 52 other banking organizations have sent a letter to the leadership of the U.S. Senate Banking Committee, proposing amendments to the "U.S. Stablecoin Guidance and Establishment of National Innovation Act" (GENIUS). The letter points out concerns regarding the GENIUS Act in areas such as interest payments, state-level regulation, and non-financial companies issuing stablecoins, as the ban on stablecoin issuers paying interest to holders is considered too lenient.