White House Economists Assess Impact of Stablecoin Reward Ban on Lending

White House economists have evaluated the potential effects of banning stablecoin rewards, concluding that such a measure would increase traditional lending by a mere 0.02%, equivalent to $2.1 billion. According to NS3.AI, the Council of Economic Advisers report indicates that the majority of this increase would benefit large banks rather than community lenders. The ongoing debate between banks and cryptocurrency firms has led to a legislative impasse in Congress.