US regulators just created a loophole for stablecoin yield, right after Congress banned it.
The OCC killed a rule that would have stopped issuers from paying yield via "indirect arrangements" with affiliates or exchanges. The American Bankers Association is furious. The Blockchain Association is not.
This isn't a technicality. A regulator just sided with crypto's structure over banks' complaints. The Bank Policy Institute already warns of "deposit flight" if this stands. They see the competition.
This is a direct win, but $GENIUS tape is flat at 0.307. Is the market pricing this in late, or not at all?
$GENIUS #Stablecoins
This desk posts all day. Follow to keep up with it.
The OCC killed a rule that would have stopped issuers from paying yield via "indirect arrangements" with affiliates or exchanges. The American Bankers Association is furious. The Blockchain Association is not.
This isn't a technicality. A regulator just sided with crypto's structure over banks' complaints. The Bank Policy Institute already warns of "deposit flight" if this stands. They see the competition.
This is a direct win, but $GENIUS tape is flat at 0.307. Is the market pricing this in late, or not at all?
$GENIUS #Stablecoins
This desk posts all day. Follow to keep up with it.