The issue of stablecoin yields is currently a hot topic in the crypto debate in the United States.
White House crypto advisor Patrick Witt stressed that banks should not see stablecoin rewards as a threat to their business models.
According to him, crypto platforms that offer returns to stablecoin holders are not unfair competitors.
On the other hand, banks can also offer similar products to their customers.
In fact, more and more traditional financial institutions are applying for licenses to expand their digital product offerings.
This issue has become one of the hot spots in the effort to pass the CLARITY Act, a bill that aims to provide clarity to the regulation of the crypto market.
This act would divide jurisdiction between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), thus establishing a clearer classification for digital assets.
However, time is running out as with the 2026 US midterm elections approaching, officials including Treasury Secretary Scott Bessent have warned that the chances of passing this legislation could be jeopardized if the political landscape changes.
