Major U.S. banks, including Bank of America and JPMorgan Chase, are actively opposing or seeking modifications to proposed crypto and stablecoin regulations. Through organizations like the Bank Policy Institute (BPI) and Better Markets, these banks have expressed concerns about the potential risks associated with stablecoins. They argue that current legislative proposals could mislead consumers and result in financial losses. The BPI warns that favorable regulations, such as the CLARITY Act, might disrupt traditional banking models by allowing stablecoins to offer higher yields on deposits. Meanwhile, Better Markets, a non-profit critical of cryptocurrencies, advocates for treating crypto as an investment rather than a commodity, emphasizing the need for stringent regulatory oversight.