No question @nfergus is right. There is zero evidence--zero--that stablecoin interest, yield or rewards destabilizes the banking system.  There is tons of evidence that they provide real competition to banks. Those are two very different things.

"No one is surprised when banks and other financial incumbents argue against measures that might promote innovation. But the argument that stablecoins are a source of instability — and interest-bearing ones especially so — is a bad one. The opposite is quite likely to be true."

Niall Ferguson

Twitter

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Acc...