US Banks Criticize Stablecoin Proposal for Insufficient Deposit Protection

Stablecoin Proposal Still 'Falls Short' Of Protecting Bank Deposits: US Banks Say

Stablecoin Proposal Still 'Falls Short' Of Protecting Bank Deposits: US Banks Say Authored by Brayden Lindrea via CoinTelegraph,.com, America’s largest banking groups said they remain dissatisfied with the CLARITY Act’s newly proposed language on stablecoin yield, arguing that it fails to protect bank deposits. In a statement Monday, the bankers acknowledged that US Senators Thom Tillis and Angela Alsobrooks are “seeking to achieve the correct policy goal” in prohibiting stab...

By Tyler Durden