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0.000970565566018021 0.00158981199265654 0.00264253091794196 0.00103661851819276 -0.00187796799651905 -0.00381827346665299 -0.00738926119360169 -0.00445816144084611
Stock impact report

PNC Bank CEO says stablecoins must choose: be a payment tool or a money market fund [Yahoo! Finance]

Coinbase Global, Inc. - 3Class A (COIN) 
US:NASDAQ Investor Relations: convertedorganic.com
Company Research Source: Yahoo! Finance
serve two roles at once — something traditional finance would not be allowed to do without strict oversight. “The fight right now in D.C. is over some terminology in the GENIUS Act that they're trying to fix with the Clarity Act, with respect to whether rewards count as interest paid on stablecoins, which was forbidden in the GENIUS Act, as a practical matter,” Demchak said during the bank's fourth quarter earnings call on Friday morning. He said stablecoins were created and marketed as a way to move money more efficiently, not as investment products. “That remains to be seen. But it isn't marketed, nor is it regulated, as an investment vehicle,” he said. Demchak argued that once a stablecoin begins paying interest, it starts to resemble a regulated financial product already familiar to banks and investors. “If they actually want to pay interest on it, then they ought to go through the same process,” he said. “Then it looks to me an awful lot like a government money market fun Show less Read more
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