Cryptocurrency companies can keep paying interest-like rewards, say federal bank regulators
Cryptocurrency companies can continue to pay interest-like rewards to customers, federal regulators said Wednesday, despite warnings from banks that such programs could drain trillions of dollars in deposits from the banking system.
TL;DR
- Cryptocurrency companies can continue to pay interest-like rewards to customers.
- Federal regulators issued this statement on Wednesday.
- Banks had previously warned that these programs could drain trillions of dollars in deposits from the banking system.