Major banks, which generate over $360 billion annually from payment services, are reportedly lobbying to eliminate cryptocurrency rewards programs. This move is seen as an effort to protect their profit margins from the growing competition posed by digital currencies. Critics argue that such lobbying efforts could disadvantage everyday consumers by limiting their access to potentially beneficial financial innovations. The debate highlights the tension between traditional financial institutions and emerging crypto technologies.
Big Banks Lobby Against Crypto Rewards Amid $360B Payment Profits
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