According to Austin Campbell, Professor and Founder of Zero Knowledge Consulting, New York University, the powerful banking lobby of the US is “nervous” at the capacity of Stabecrims to disrupt its traditional business model, especially when it is produced by Stabycines, when it is the founder of zero knowledge consultation.
In the May 21 social media posts, which begins with “The Empire Lobbies Back”, Campbell claimed that the banking industry is concerned with the ability to provide interest or award to the holders for especially stabecoin.
In a pointed message aimed at the purpose of Democratic MPs, Campbell wrote that “banks want you to protect their cartel so that they can screw your voters.”
He explained how partial reserve banks enable banks to maximize the profit by offering minimum interest to depositors.
The banking lobby says that if stabelins pay interest or any other type of monetary reward, banks will be “damaged”, Campbell said.
“This is naked pandering for cartel protection,” he said that the opposition party was urged to avoid “screws”, urging the opposition party to support any kind of blanket ban on stabechoin interest payments.
Campbell has long advocated intelligent Stabelcoin law in the United States, A Congress sub -committee warning in April 2023 Failing to implement such laws will be pushed abroad.
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Rise of yield-bearing stabcoin
The scary assessment of the traditional banking industry’s campbell comes amid a wave of stabeloin issuers that launch yield-bearing tokens.
As Reported by cointelegraphIn February, the US Securities and Exchange Commission (SEC) approved the first yield-bearing Stabecin Security by Figure Markets. At the time of its launch, the new YLDS tokens offered 3.85% yield.
Figure markets are going below the only player yield-bearing stabecoin route.
in February, Tather’s co-founder Reve Colins Announced that his PI protocol would allow investors to mint the USP stabecon in exchange for the USI, which is an interest-paying equivalent.
The USDS of the spark protocol also provides interest payments generated through decentralized loans and token treasures.
Sampark Protocol Developer Phoenix Labs CEO Sam McFerson said, “It is unacceptable not to achieve the least risk-free rate to keep stabechoin.” Bloomberg,
In addition to bitcoin (BTC), Stabecrimons have certainly become the most effective use case for blockchain technology Coinbase Canada CEO Lucas Matheson Telling cointelegraphs that the global stabechoin is about three times the veteran visa of the stabechoin volume credit card.
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