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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 stablecoin yield but noted that the CLARITY Act’s “proposed language” currently “falls short of that goal.”
“It is imperative that Congress get this right,” the American...
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