That's one of the controversial things the Senate Banking Committee's weighing is limiting the ability for stablecoin issuers who aren't banks to pay interest. Think about the advantage Banks with a Federal Reserve Master account are getting almost a 4% rake right now just for having money on deposit. Think what you're doing with a stablecoin. You literally just back it with Treasuries, which is what a Federal Reserve Master account has. It's Treasuries in it so it's fully compliant. (07:09–07:20)
CLAIM
Asserts that banks with a Federal Reserve Master account earn nearly 4% interest on deposits.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
