Congress should not kneecap one of the clearest advances in payment infrastructure to protect community banks from a threat that has not been proven, argues Eco CEO Ryne Saxe. Congress is debating whether stablecoins will hollow out community banking. The banking lobby says yes. The data says otherwise. I do not come to that conclusion casually. My father has worked for more than 30 years at a community bank in rural Illinois. I grew up in that town of about 5,000 people, where customers did no…
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