According to Eric, JPMorgan Chase, Bank of America, Wells Fargo and other banking mastodons are lobbying to ban cryptocurrency storage fees tied to the dollar exchange rate.
In his opinion, businessmen are trying to protect their vested interests, expecting an outflow of funds co accounts in case of the growing popularity of digital assets with a stable exchange rate. Trump reasonably believes that many Americans will prefer to convert fiat currency into stablecoins in pursuit of higher passive income.
According to Eric, banks in the U.S. usually pay 0.01-0.05% per annum for deposits in dollars, a yield on blockchain Tether (USDT), USDC (USDC) and other dollar-based coins reaches 4-5%. Which, by the way, is not bad even for the Moldovan market, where the interest rate on deposits from 2001 to 2026 averaged 4.05%.
The American Bankers Association and other lobbyists are spending millions trying to ban or restrict the earning of stablecoins by passing the CLARITY decree [regulating digital assets].
They talk about fairness and stability, when in fact it’s about protecting their monopoly and preventing the withdrawal of money from deposits,” Trump wrote on social network X.
Eric believes that the efforts of bankers will fail, but according to journalist Eleanor Terrett, officials have gone along with the financial gatekeepers and agreed to outlaw the payment of rewards for stabelcoin storage. If she turns out to be right, Americans will only be able to receive rewards for using cryptocurrencies, for example, in trading transactions.
