American banks "battle" Crypto at the White House: Will stablecoins be tightened?
The market is excited, but you need a cool head to perceive reality. That's the situation, traditional banks are strongly opposing allowing Crypto companies to pay interest to users holding stablecoins. They are concerned that if you transfer all your bank deposits to stablecoins to earn higher interest, the local financial system will weaken severely.#anhbacong
The current GENIUS law has prohibited issuers from paying interest directly, but the way third parties are circumventing the law by offering rewards is causing banks to be upset. The meeting at the White House took place but has not yet produced a final solution, indicating that the conflict of interest between old and new finance is still extremely tense. In the context of the U.S. government partially shutting down and Washington's politics being chaotic, the CLARITY bill could be delayed for a long time. Do not rush to "jump on board" into projects promising high returns at this time, wait for clear legal confirmations to avoid unnecessary risks. $BTC $USDC
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