Congress Urged to Bar Interest on Payment Stablecoins: Report
A report indicates that Congress is being urged to bar interest on payment stablecoins. According to Kevin Paintner, chairman of the Independent Community Bankers of America’s Digital Assets Subcommittee, allowing crypto exchanges and intermediaries to offer yield-like incentives on payment stablecoins could pose risks to local economies. The report suggests this measure is needed to protect Main Street lending.
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