There is still no agreement on the CLARITY Act as discussions between the Trump Administration, banks, and crypto industry leaders continue without resolution. A significant issue has arisen from the banks’ “Prohibition Principles” document, which aims to eliminate yield-bearing stablecoin programs due to concerns that these could lead to a $500 billion deposit flight from traditional banks by 2028. With March 1st approaching, marking a critical deadline for advancing the stalled CLARITY Act, both sides remain entrenched in their positions regarding the future of stablecoins as either payment tools or competitors to deposit accounts.
Standard Chartered warns $500B could exit banks by 2028 over stablecoin yields
