Cody Carbone(@CodyCarboneDC):Misinformed and factually incorrect. This is extremely disappointing from the WSJ and begs the question of motive of something so riddled with misinformation. There is no evidence of deposit flight for small banks from stablecoin rewards. Furthermore, this bill specifically prohibits rewards that are functionally and economically similar to an interest bearing deposit. And I don’t know how to make this any clearer, but developers and infrastructure providers that do not custody funds should not be treated like banks. Those building the tools are wildly different than those running the banks.

2026.08.04 22:47

Misinformed and factually incorrect. This is extremely disappointing from the WSJ and begs the question of motive of something so riddled with misinformation. There is no evidence of deposit flight for small banks from stablecoin rewards. Furthermore, this bill specifically prohibits rewards that are functionally and economically similar to an interest bearing deposit. And I don’t know how to make this any clearer, but developers and infrastructure providers that do not custody funds should not be treated like banks. Those building the tools are wildly different than those running the banks.

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