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The American Bankers Association states that stablecoin yield-related compromise solutions still have shortcomings.
Golden Finance reports that on May 5th, the American Banking Association stated that the proposed provisions regarding stablecoin yields in the cryptocurrency bill “Clarify Act” did not adequately address banks’ concerns about deposit withdrawal risks, indicating that the banking industry is still dissatisfied with the bill. This statement was unexpected. Previously, crypto companies including Coinbase claimed that this clause was a compromise consensus reached between banks and the crypto industry. Driven by the rising anticipation of the bill’s passage, Coinbase’s stock price rose 6% on Monday, and Circle’s stock price surged by 20%. (Dongxin News)