White House study bolsters crypto's stance in stablecoin yield fight against bankers

What Happened

The White House Council of Economic Advisers released a report Wednesday concluding that banning stablecoin yields would have negligible impact on bank lending and credit creation. The analysis, based on Federal Reserve and FDIC data, argues yield prohibitions would do little to protect lending while removing consumer benefits. The findings challenge the American Bankers Association's claims that stablecoin competition would drain deposits from traditional banks.

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