Stripe, Banks Tell Congress Payment Rules No Longer Fit Modern Commerce

Lawmakers spent much of Wednesday wrestling with a question that reaches well beyond faster payments: whether a regulatory framework built for deposit-taking banks can continue to govern a financial system in which software platforms, digital assets and artificial intelligence are reshaping how money moves. The hearing, titled “ Future of Payments: Promoting Innovation and Fair Markets,” examined whether Congress should create a new regulatory lane for payments companies that neither accept depo