I noticed an interesting conflict of interest in the American financial sector. The U.S. Banking Association is actively challenging the White House's report on the profitability of stablecoins, and the reason is quite understandable.

According to the chief economist of the American Bankers Association, the issue is not in the figures cited by the White House (21 billion dollars in potential credit reductions), but in the real risk of deposit outflows. If stablecoins start generating income, households and companies will simply transfer their funds from banks into the crypto ecosystem. This is especially true for regional banks, which are already under pressure.

This is not a new story. When a financial incentive arises, people notice it. The high yield of stablecoins could become a serious competitor to traditional bank deposits. Perhaps that’s why banks are so actively lobbying for a ban on paying interest on stablecoins in the Senate.

On one hand, the White House considers the impact minimal. On the other hand, the banking sector sees a real threat. Interestingly, the cryptocurrency industry and traditional finance are already negotiating a compromise. This issue will become a key point in the upcoming legislation.

While political games are ongoing, users are simply choosing where it’s more advantageous to store their funds. Whether they are trading NFTs on Magic Eden or just looking for a place for their capital. The crypto ecosystem is becoming an increasingly competitive alternative to traditional banking. That’s why this dispute is so important for the future of the financial landscape.