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Eric Trump accused US banks of blocking stablecoin yields
The US president's son claimed that JPMorgan, Bank of America, and Wells Fargo are lobbying for stablecoin yield caps in the CLARITY Act.
š¬ According to Eric Trump, banks pay customers only 0.01-0.05% per annum, while they themselves receive approximately 3.65% from the Federal Reserve. He claims that lobbyists are spending millions to prohibit stablecoin yields at 4-5%.
For their part, banks warn that stablecoins with yields could divert trillions of dollars in deposits from the traditional banking system.
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