Banks Fear Stablecoins as Yield Threatens Deposit Business: Report
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Analyst EGRAG CRYPTO argues banks oppose stablecoins not because they are risky but because they enable holding, moving and earning returns on dollar assets without traditional bank deposits. The comment comes as US lawmakers negotiate crypto legislation and stablecoin rules and banks clash with digital-asset advocates over whether yield-bearing stablecoins could siphon deposits, raising regulatory and adoption risks for stablecoin issuers and the broader DeFi/CEX ecosystem.
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Popular crypto analyst EGRAG CRYPTO has claimed that banks are fighting stablecoins not because they are risky, but because they allow people to hold, move, and potentially earn returns on dollars without relying on traditional bank deposits.
His sentiment comes as US lawmakers continue to negotiate crypto legislation and stablecoin rules, while banks and digital asset advocates clash over whether yield-bearing stablecoins could pull deposits away from the banking system.
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Sherman Warns Government Stablecoin Payments Would Enable Tax Evasion
