White House Rejects Concerns Over Stablecoin Rewards Impact on Bank Deposits

A White House cryptocurrency official has dismissed concerns that stablecoin rewards under the proposed U.S. CLARITY Act would lead to significant bank deposit outflows. According to NS3.AI, this disagreement has intensified into a public conflict between the banking industry and White House crypto policy officials. The core of the dispute revolves around the regulation of crypto-related activities within traditional banks as outlined in the Act.