The notable point in the US and Canadian proposals is not simply that banks may issue stablecoins, but that the economics are being fenced in. US rules would bar issuer-paid interest, while Canada’s draft limits holder yields and caps redemption fees at 1%. That could make existing deposit relationships and payment distribution more valuable than yield incentives. Whether those advantages can dislodge USDT and USDC remains untested. #USCanadaStablecoinPush
