The American Bankers Association amplified warnings the Senate’s Clarity Act could push deposit flight into stablecoins unless lawmakers tighten yield limits. The American Bankers Association is heating up its lobbying of senators to tighten stablecoin provisions in the Clarity Act, warning that updated language could still undermine bank deposits and financial stability. Bank trade groups argue that yield-bearing stablecoins could act as substitutes for insured deposits and drain funding for m…
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