Banks are hardly the fragile utilities they are claiming to be Banking companies claim that stablecoins will drain the banking system of the deposits it needs to provide mortgages and finance entrepreneurs. If stablecoins do someday compete with larger banks, all that banks would have to do to prevent outflows is pay higher interest and improve their services. Banking in America is a barely profitable and highly fragile industry that may soon cease to exist if the government doesn't introduce onerous rules that hurt consumers, throttle technology and deter competition. Or at least that's the message being bellowed in ... (full story)