As the countdown continues for the CLARITY Act, which could fundamentally change the crypto market in the US, there has been significant movement on the banking side. Recent information, in particular, clearly shows that traditional finance is not very pleased with this law.
According to details shared by journalist Eleanor Terrett, banks, especially those based in North Carolina, have started to directly intervene in stablecoin yields in the US. So the situation is not just about watching — they are actively trying to steer it.
An email sent to member banks by the North Carolina Bankers Association highlights the seriousness of the issue. The shared content emphasizes that the current regulation does not prevent a scenario that is the biggest fear of banks:
👉 The movement of money from banks to stablecoins.
According to an email leaked from a small bank based in Wilmington, the current 'stablecoin yield' approach is not sufficiently deterrent for the banking system. To put it plainly, banks believe they could lose the game in this state.
What is even more striking is this:
Bank employees are advised to call Thom Tillis's office and convey a specific message.
