The Coin Base has withdrawn against the claims that Stable Queens threatens the banking system, and calls the idea of ”deposit harvest” a fiction.
In a blog post on Tuesday, the Crypto Exchange argued that the bank’s reserves who removed the bank’s reserves were unfounded by the fear of Queens. The Coin Base claims that “recent analysis” shows that there is no meaningful link between the adoption of Stable Quinn and the emission accumulated in the community banks.
The exchange writes that “Stable Queens do not threaten to lend-they offer a competitive alternative to the banks’ 7 187 billion annual swipe Facebook Fall,” the Exchange wrote, adding that Stable Queens are not savings accounts but payment tools. He added, “No one who buys stabilizes to pay abroad to pay for the foreign provider is re -saving their savings – they are choosing a fast, cheap payment method.”
The Queen Base claimed that the company also challenged recent claims in the US Treasury Lending Advisory Committee report, which predicted $ 6 trillion in a possible deposit flight, despite the predictions of only $ 2 trillion Establishment Market by 2028. “
Related: Bank of England Stabon Limitations by Crypto Groups of the UK: Report
Most stable activity comes out of the US
In a simultaneous dissertation, Coin Base said most stable activity is internationally, especially in weak financial infrastructure regions. In this article, citing the International Monetary Fund, it is said that more than $ 1 trillion of the $ 2 trillion transactions in 2024 has occurred outside the United States, especially in Asia, Latin America and Africa.
Since almost all the major stubborn dollars are dollars, their abroad reinforces dollar domination. Therefore, instead of eliminating US reserves, Stable Queens helps increase the global influence of the dollar without significantly affecting the availability of domestic credit.
It also states that the bilateral relationship between bank stock performance and crypto companies was positive for the US Stable Queens Act (Genees Act) and positive after the passage and establishment of national innovation, which shows that stabbatos and banks can develop together.
The Quantal Graph reached the bank policy institute for comment, but no response was received through the publication.
Related: Yala’s U -Stablon Pags have failed to restore the ‘Attack attempt’
Banks need to improve their offer
Last week, Matt Hogan, chief of Buttways investment, criticized US banks for complaining about the Stable Queen Competition, rather than improving their offerings, improving interest rates, especially for collectors. He argued that banks have exploited the collectors for a long time by offering low yields and they are now panicked because the Stabbuts offer a better alternative.
In August, US banking groups, led by the Bank Policy Institute, urged the Congress to close a so -called Lofol in the Genius Act, which could allow stubborn issues to be offered indirectly by crypto exchange or affiliates.
In response, the Crypto Council for Innovation and Blockchain Association asked US legislators to reject the proposal, and warned that the proposed amendment would be bowed towards traditional banks while suppressing innovation.
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