PANews February 14 News, according to Cryptopolitan, White House crypto policy advisor Patrick Witt stated that the ability of crypto platforms to offer stablecoin yields does not pose a fundamental threat to the U.S. banking industry, and banks and crypto companies can coexist and benefit from each other. Witt said that stablecoin yields should not be seen as a threat to banks, as both sectors have opportunities for innovation and to offer similar services. He pointed out that banks already have the tools and regulatory pathways to launch similar products, such as applying for digital asset licenses through the Office of the Comptroller of the Currency, and many banks are moving in this direction. He believes stablecoins can help banks expand their customer base and develop new financial products, and should be viewed as a competitive advantage rather than a competitor.
U.S. Treasury Secretary Scott Bessent warned that if political power in Congress shifts, crypto legislation could be delayed or overturned. Observers noted that as the election season approaches, lawmakers’ focus may turn to campaigning, and the current legislative window will not remain open forever. Witt stated that the controversy over stablecoin yields has been exaggerated, and he remains optimistic about reaching a consensus.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Bitcoin hits $66,000 and struggles to hold steady; three Federal Reserve officials warn: Iran war makes rate cuts even more distant
Bitcoin once dropped to $66,140 before rebounding to $68,549. The market remains highly uncertain due to the Iran war. Federal Reserve officials warn of increasing inflation risks and suggest potential impacts on future monetary policy. Additionally, rising oil prices have strengthened the dollar, suppressing gold prices and dampening investor confidence.
動區BlockTempo43m ago
European Central Bank report warns: Widespread adoption of stablecoins threatens the monetary sovereignty of the Eurozone
The European Central Bank warns that the proliferation of stablecoins could threaten the monetary sovereignty of the Eurozone, especially when foreign currency stablecoins dominate the market, affecting financial stability and policy transmission effectiveness. Many European banks are developing euro stablecoins to address potential risks and enhance financial stability.
MarketWhisper50m ago
TD Cowen: Banks may struggle to win the battle for stablecoin yields, but prolonged stalemate could threaten U.S. cryptocurrency legislation
Investment bank TD Cowen believes that the banking industry may be at a disadvantage in the debate over stablecoin yield policies, which could delay the progress of the U.S. Crypto Market Structure Act. The report notes that banks' opposition to stablecoin yields may harm consumer interests, making political support difficult to sustain. Meanwhile, the OCC is proposing rules related to stablecoins, including a ban on direct interest payments, and will also seek public comments in the future.
GateNews3h ago
Analyst raises Circle's target price, oil price increase and interest rate expectations benefit stablecoin business
Affected by rising oil prices and changing interest rate expectations, Circle Internet Group's target price has been raised to $100, with the stock price increasing nearly 8% to $103.71. Analysts note that changes in interest rates could have a greater impact on valuation. Although revenue expectations have been slightly raised, a clearer regulatory framework may intensify competition, putting long-term profit margins under pressure.
GateNews3h ago
The Federal Reserve has a 97.4% probability of maintaining interest rates unchanged in March.
ChainCatcher reports that, according to Jintiao, CME "Federal Reserve Watch" shows a 97.4% probability that the Federal Reserve will keep interest rates unchanged until March, and a 2.6% probability of a 25 basis point rate cut. By April, the probability of a total 25 basis point rate cut is 14.4%, the probability of holding rates steady is 85.3%, and the probability of a total 50 basis point cut is 0.3%. By June, the probability of a total 25 basis point rate cut is 37.1%.
GateNews4h ago
Circle CRCL Stock Slips as Clarity Act Deadline Looms
Key Insights
Circle CRCL stock trades near key support as investors await the Clarity Act decision that could reshape US digital asset regulation framework.
Bitcoin and XRP rally while gold and silver surge as geopolitical tensions drive demand for both risk and safe-haven assets.
CRCL
CryptoFrontNews7h ago
