‘Crypto v community’: 4,000 local US lenders join forces to fight ‘stablecoins’ law
Up to 4,000 community banks fear looming legislation to regulate digital cash will deprive rural firms and farmers of $850bn-worth of loansOn a quiet summer morning, above a small mid-western town, an American flag is waving in the breeze. The camera cuts to a father helping his son at the wheel of a tractor, and flits to a smiling couple on a grass-lined pavement, moments before flashing to grainy images of “crypto insiders” in suits.“American families don’t want experiments with their money,”
Overview
Up to 4,000 community banks fear looming legislation to regulate digital cash will deprive rural firms and farmers of $850bn-worth of loans
On a quiet summer morning, above a small mid-western town, an American flag is waving in the breeze. The camera cuts to a father helping his son at the wheel of a tractor, and flits to a smiling couple on a grass-lined pavement, moments before flashing to grainy images of “crypto insiders” in suits.
Details
“American families don’t want experiments with their money,” a voice booms. “They want jobs, growth, and available credit. When crypto gets a free pass, communities pay the price.”
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Originally published at www.theguardian.com.
