BREAKING:

🇺🇸 WHITE HOUSE SAYS STABLECOIN REWARDS WON’T HARM BANKS.

WHITE HOUSE ECONOMISTS SAID THAT PROHIBITING YIELD WOULD BOOST TRADITIONAL LENDING MARGINALLY BY 0.02%, OR $2.1 BILLION, MOST OF WHICH WOULD COME FROM LARGE BANKS RATHER THAN COMMUNITY LENDERS.

THIS IS QUITE OPPOSITE OF BOA CLAIMS THAT ALLOWING STABLECOINS TO PAY YIELDS COULD RESULT IN A ‘DEPOSIT OUTFLOW’ OF UP TO $6.6 TRILLION.