The American Bankers Association (ABA) joined 52 banking organizations in a letter to the Senate Banking Committee, stating that the "GENIUS Stablecoin Act" signed by Trump last month has loopholes regarding the restriction on "paying interest/returns to holders" and suggested extending the relevant restrictions to digital asset exchanges, brokers, and affiliates to prevent "de facto interest payments" from affecting deposits and credit. In response, Coinbase Chief Legal Officer Paul Grewal stated on X that there is no so-called "loophole" and believes that the banking industry is avoiding competition.