JPMorgan downplays stablecoin threat as local bankers warn of $6.6T risk
The ABA sent a letter to the U.S. Senate, saying stablecoins that offer yields will affect its banking members ability to grant loans, but JPMorgan disagrees.
He highlights three key challenges: finding alternatives to USD tracking, building capture-resistant oracles, and solving staking yield competition issues.
🇺🇸 UPDATE: Fed Chair Powell says the threat of criminal charges is a consequence of the Fed setting interest rates to serve the public rather than presidential preferences.