Stablecoin yields won’t harm banks, White House economists say

White House economists say banning stablecoin yield would add little to bank lending while imposing significant costs on users..

• White House economists say banning stablecoin yield would add little to bank lending while imposing significant costs on users
• Cointelegraph in your social feed A White House report found that banning yield on stablecoins would have a marginal impact on bank lending while creating clear economic downsides
• Accordingto the Council of Economic Advisers, a three-member agency within the Executive Office of the President tasked to offer the president economic advice, moving funds from stablecoins back into bank deposits would not translate into significant new lending