Odaily Planet Daily News: Bank of America is lobbying to establish stablecoin issuance rules that benefit banks rather than tech companies, as a high-risk power struggle is currently underway between traditional banks, tech giants, and cryptocurrency companies such as Tether. According to insiders, Bank of America mainly lobbies industry organizations such as the Banking Policy Institute and the American Bankers Association to urge lawmakers to develop rules that are favorable for mature banks to issue stablecoins, while restricting commercial companies such as large tech companies (non banks) like Amazon and Meta from issuing US dollar backed cryptocurrency. (The Block)