Major U.S. banks push back on new CLARITY Act proposal

Yield-earning stablecoins are a direct threat to the backbone of the American economy. Research shows that if these digital assets are allowed to offer rewards, they could slash consumer, small-business, and farm loans by 20% or more as deposits flee traditional banks. While crypto firms claim these risks are "imagined," the reality is that incentivizing idle stablecoin holdings drains the capital needed for local lending. Should stablecoins be banned from offering any yield?
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