power 2026-04-09
Banks Spent Two Years Lobbying to Ban Stablecoin Yield. The White House Just Proved Their Numbers Don't Add Up.
The CLARITY Act was almost derailed by bank lobbying to prohibit stablecoin yield. A new White House analysis finds the ban would boost bank lending by 0.02% while costing consumers $800 million. The banks are protecting something other than what they claimed.