Banking Lobby’s War on Stablecoin Yields: Here Is The Real Reason Why Clarity Act Remains Stalled

TLDR: Banks hold trillions in zero-yield deposits and fear stablecoins offering 3-5% Treasury-backed returns. The same banking lobby behind Operation Choke Point now blocks bipartisan Clarity Act legislation. Deposit flight to stablecoin wallets represents an existential threat to traditional banking models. Compromise proposals like Alsobrooks would limit yields to staked stablecoins, not passive holdings.    [...]

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