Gate News message: April 13, the American Bankers Association (ABA) recently publicly criticized a stablecoin report issued by the White House Council of Economic Advisers (CEA), saying its analysis direction is completely wrong. The CEA report argues that banning stablecoin yield would have little effect on protecting bank lending, only increasing loans by 0.02%, while instead harming consumers. But the ABA counters that the report sidesteps the real risks: allowing stablecoins to pay interest would lead to large-scale deposit outflows from community banks (local small and mid-sized banks), raise funding costs, and tighten local credit. The ABA emphasizes that the CEA’s focus on the “ban impact” creates a false sense of security—the scenario where interest-bearing stablecoins rapidly scale is far more disruptive.
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