Clarity? The Banks Want to Kill; Competition via the Givernment Rent Seeking AGAIN
“Banks are pushing to add provisions to the Clarity Act to squash crypto competition — all to protect their profits from deposit spreads. It’s textbook rent-seeking behavior, and it could shape the future of finance.”
The banks seek to add provisions to the clarity act, to prevent competition from the crypto industry, wanting to keep the profit on the spread of their deposits versus what they get by parking that in treasury accounts and their loans. It’s classic rent seeking behavior.
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