The Big Banks Are Worrying About Yield Bearing Stablecoins
The United States’ biggest banks are afraid. Not of a financial crisis, not of cyberattacks, not of geopolitical shocks. They’re afraid of yield-bearing stablecoins paying customers interest. That fear is why they fought tooth and nail to keep yield-bearing stablecoins out of the GENIUS Act, and why they’re now pushing regulators to stop platforms like Coinbase from offering rewards to stablecoin…
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