Eric Trump, co-founder of the World Free Finance Company, criticized major banks for lobbying against the stablecoin yield provisions in the cryptocurrency market structure legislation, claiming that these banks aim to maintain their low-interest monopoly. He pointed out that bank deposit interest rates are extremely low, while cryptocurrency platforms can offer yields of 4-5% or more. His father, Donald Trump, also urged Congress to advance the Clarity Act, criticizing the banks' stance on stablecoin yields.
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Eric Trump, co-founder of the World Free Finance Company, criticized major banks for lobbying against the stablecoin yield provisions in the cryptocurrency market structure legislation, claiming that these banks aim to maintain their low-interest monopoly. He pointed out that bank deposit interest rates are extremely low, while cryptocurrency platforms can offer yields of 4-5% or more. His father, Donald Trump, also urged Congress to advance the Clarity Act, criticizing the banks' stance on stablecoin yields.