Why are the banks so desperate to sand bag the clarity act? I thought they were supposed to be adopting crypto.https://truthsocial.com/@realDonaldTrump/116167496865556148
>>61932763I don't know what to think of the Clarity Act. It seems overall positive for crypto but I will never trust anything coming from those who control the banks.
Why do I feel like the clarity act is secretly going to cause some major fucking problems
The banksters postion that holders shouldn't get yield on stable coins is retarded.
the more institutional adoption and "good" regulation, the less we pump
>>61932798If the Clarity Act passes and stable coins are allowed to generate interest the clock starts ticking for Great Depression 2.0. If it passes and stablecoins can’t generate yield then the last froth narrative is done and crypto becomes a race for the exit.
>>61932810Especially retarded since cash accounts at banks pay a yield
>>61932763does this even make a difference? the vast majority of crypto uses are from regulated exchanges and payment apps, how many people are actually self-hosting? did people actually think crypto was going to be a deregulated currency instead of the blatant speculative asset that it is today?
>>61932955Ok I have two questions about this 1.) why do you think it would cause a depression?2.) is this essentially reinventing backed currency but instead of gold backing the dollar, it’s the dollar backing crypt with a 1:1 reserve requirement? In essence fiat is backing… fiat?
>>61932973Not the other guy but it’ll cause a depression because of CBDC consolidation. I’d imagine DAI would likely depeg in next couple years and the amount of frozen transactions will kick into overdrive
BANKS WANT TO BAN STABLECOINS FROM GETTING YIELD BECAUSE THEY WANT YOUR CASH WITH THEM. THEY WANT YOUR MONEY AND ENTICE YOU TO GIVE IT TO THEM BY HAVING A MONOPOLY ON PROVIDING YIELDS. THEY DO NOT WANT MONEY FLEEING THEIR GREEDY HANDS. THIS IS SIMPLE STUFF.
>>61932763The first anti-banking President in a century and nu-/biz/ hates his guts. Fucking kek. The absolute state of this redditized board.
the future are crypto banks. banks are ran by boomers and liberals so you can see why they don't want to embrace the change.
>>61933036Yea I’m sure goybase won’t put the same rotten dirty tricks on the goy as BofA does
>>61932763this fat disgusting pedophilic sow is destroying crypto to make quick profits with his Epstein buddies, wake the fuck up people
This is what I voted for
>>61932763what the fuck is china going to get lmaoo..crypto is a nothing burger .no one knows what the fuck to do with any of it, its why the whitehouse is so desperate to invite all the scammers like sergey and xrp to the whitehouse pointless shit,
>>61933033Yeah, it is so blatant. Banking lobbyist have said that their number one issue is capital flight; in other words, they know that Defi is better but they want to keep fucking you through the ancient centralized systems of control. >>61933119Who pays you retards? You have Trump publicly calling out the banks and supporting crypto (which is not a popular stance among the normies rn) even during all this shit going down w/ Iran. Compare that to the Dems who were colluding w/ the SEC to destroy crypto.
>>61933033>>61933471bump>>61933461pool's closed nigger
>>61932763they want to use blockchains and DLT, smart contracts and cross-chain protocols, but they want it to be on their terms - they do not see crypto as a decentralised competitor for their deposits. They thought they had tamed it...
They are absolutely terrified that they might have to pay more than 0.0025% interest
>>61933011Elaborate. It sounds like you don't know what cbdcs are
>>61932763>Why are the banks so desperate to sand bag the clarity act?you know you could run these posts by an ai bot real quick right? >The banksters postion that holders shouldn't get yield on stable coins is retarded.if you consider it from their point of view, it's one of the more rational decisions they could've made. they stand to lose a huge portion of their business
The banks are getting yield but are under intense scrutiny of the government as well as dozens of regulatory bodies.The way they see it, its unfair to them because crypto companies wont be, at least by the time the clarity act would pass, have any of those restrictions.The more exact battle is basically - banks have a monopoly on yield and liquidity, and they dont want to give it away because theyre businesses
>>61933073Stablecoins don’t do fractional reserve banking you lezitor nigger
>>61933036Based. All of 4chan is getting astroturfed by leftist bots. AI has gotten so good at this it’s hard to tell a bot from a fag.
Can’t believe we have pro-banking shills on 4chan right now. If all bankers were executed the world would immediately become a better place.
>>61932763Anon, you could put your money in a bank with no interest, or you could convert your cash to an interest bearing USD stablecoin at 5%. Which would you choose?
>>61935914You've already been able to get short term yield like that for decades by just holding shit like SPAXX. If normies have been too afraid to open a brokerage for some interest since the 90s, do you really think they're going to flock to shit like goybase?
>>61935973Unironically yes
>>61935973They can get short term yield, but could they go to a merchant and say "hey, let me buy X with my stock"? If you have your money in an interest bearing stablecoin, and if merchants accept crypto, why would you cash out?
