The bankers want people kept in lower-yield deposits for the good of the financial system as it's existed for generations, and their argument is gaining ground.
- The crypto industry thought it left the debate settled over whether it would be allowed to offer rewards to people using stablecoins, but banking lobbyists came back to undermine an earlier compromise effort, leaving the Clarity Act on shaky ground.
- The question at the heart of the banks’ argument, that depositors will run to stablecoins if they compete with banks’ deposit-account interest, has some glaring weaknesses, according to crypto lobbyists.
- A CoinDesk analysis shows the banks are giving far less in interest than they once did, aren’t yet losing depositors and the lending they tout is an increasingly smaller part of their very profitable business model.
- 1 The Clarity Act stalled. Bankers aren’t hitting the brakes yet on crypto dealmaking 33 minutes ago
- 2 Payments firm OpenPayd targets year-end Nasdaq listing to fund U.S. expansion and acquisitions 21 hours ago
- 3 Crypto job postings triple to over 1,200 in September, but applications fall 21 hours ago
- 4 Cathie Wood says smart investors need to start watching where AI agents spend money 22 hours ago
- 5 Crypto's Sisyphean struggle 1 day ago
- 6 BlackRock offers a glimpse of how tokenization may change your investment portfolio 1 day ago
- 7 Bank group sues U.S. regulator over granting crypto trust charters 1 day ago
- 8 BNY in talks with Kraken parent Payward over infrastructure partnership 1 day ago
- 9 Once a $2 billion Ethereum layer-2, Blast is shutting down after assets plunge 98% 1 day ago
- 10 Trump’s potential AI czar, Jay Clayton, helped pioneer the SEC’s crypto crackdown 1 day ago
The Definitive Stablecoin Landscape Series: Asia Pacific
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Why it matters :
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Trump’s potential AI czar, Jay Clayton, helped pioneer the SEC’s crypto crackdown
Crypto industry gave $8 million to Clarity Act lobbyists who didn't close the deal
How months of work on the Clarity Act all fell apart
Original sourceCoinDesk
The original source remains the canonical version for attribution, rights, and later updates.
Read original ↗Disclaimer: This article is for information only and does not constitute investment advice. Digital assets involve substantial risk.
← Back to latest