Banks Don't Want to Compete, Offer Better Yield: Mersinger

A big-money lobbying fight on Capitol Hill is pitting banks against the fast-rising crypto industry with potentially trillions of dollars at stake. The dispute centers on whether cryptocurrency exchanges should be allowed to offer financial incentives—similar to interest—to those keeping their digital assets with them. Banks are urging lawmakers to broaden an existing ban on stablecoin interest payments in an upcoming regulatory bill. Summer Mersinger, Blockchain Association CEO and a former commissioner at the CFTC, speaks to Scarlet Fu and Tim Stenovec on "Bloomberg Crypto" about the dispute. (Source: Bloomberg)