🚨JUST IN: BANKS TARGET INTEREST-PAYING STABLECOINS IN CLARITY ACT
JPMorgan CFO says stablecoins that pay interest are “obviously dangerous and undesirable.”
The Senate Banking Committee has filed 130+ amendments to the crypto market structure draft ; including proposals under the CLARITY Act to ban stablecoin yield entirely and block public officials from profiting from crypto.
Coinbase CEO Brian Armstrong said it: banks are simply trying to block competition. Resistance is futile ; banks will eventually be forced to operate on blockchain rails, not fight them.
Just like Uber was a danger to taxis.
Just like Airbnb was a danger to hotels.
Blockchain is a disruptive technology.
#bank #JPMorgan #tax