Bank of America is actively lobbying U.S. lawmakers through trade associations to influence stablecoin regulations in favor of banks, aiming to challenge the current dominance of issuers like Tether and Circle. This lobbying effort is part of a broader competition among financial institutions and technology companies to shape the regulatory landscape for stablecoins in the United States. The proposed STABLE Act, which includes a full-reserve requirement for stablecoin issuers, could significantly alter the market dynamics. According to a report by Nansen, companies such as Coinbase, PayPal, and Visa are well-positioned to benefit from compliance-focused regulations, potentially emerging as new leaders in the stablecoin sector.