Two prominent crypto groups are accusing banks of attempting to “relitigate” issues within the stablecoin bill that President Trump signed into law last month.

The Crypto Council for Innovation (CCI) and Blockchain Association argued in a letter to leaders of the Senate Banking Committee on Tuesday that they should reject the push by banks to tweak language in the GENIUS Act on rewards payments, state powers and limits on nonbank stablecoin issuers.

“As you are aware, these matters were the subject of extensive debate, negotiation, and compromise during the legislative process,” CCI CEO Ji Hun Kim and Blockchain Association CEO Summer Mersinger wrote.

“The Letters unfortunately seek to create an uncompetitive payment stablecoin environment, protecting banks at the expense of broader industry growth, competition, and consumer choice, which form the bedrock of America’s vibrant financial........

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