SlippiHUD Creator

Locksmith

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Joined 2 months ago
Cake day: April 23rd, 2026
  • SlippiHUD@slrpnk.nettoNews@lemmy.world•4,000 local US lenders join forces to fight ‘stablecoins’ law
    3·
    2 days ago

    The small banks are arguing that allowing Crypto Exchanges to act as banks who can give out digital currency as rewards that they’ll be deprived of the deposits/customers they’ll need to give out local loans, which the exchanges seem unlikely to continue, considering the international nature of online bussiness.

    And without those local loans, small farmers and bussinesses will likely be deprived access to capital. Resulting in bad outcomes for everyone.

    “ICBA president Rebeca Romero Rainey is quick to point out that community banks fund more than 60% of all small business loans, and 80% of agricultural loans, across the US.”