American Bankers Association Criticizes White House Stablecoin Report: Wrong Analytical Approach, Overlooks Core Risks of Yield-Paying Stablecoins

ME News Report, April 13 (UTC+8), the American Bankers Association (ABA) publicly criticized the stablecoin report released by the White House Economic Advisory Council (CEA), stating that its analysis direction is completely wrong. The CEA report believes that banning stablecoin yields has little effect on protecting bank loans, only increasing loans by 0.02%, and instead harms consumer interests. However, ABA countered, the report avoided the real risks: allowing stablecoins to pay interest will lead to large-scale outflows of community bank deposits, rising financing costs, and tightening of local credit. ABA emphasized that CEA’s focus on the “ban impact” creates a false sense of security, and rapid scaling of interest-paying stablecoins is a more destructive scenario. (Source: ODaily)