A bunch of bankers threatening to sue any exchange that tries to give people a reasonable interest rate is as miserable as it gets.

It baffles me how Coinbase, Binance, Kraken and almost most other exchanges have some sort of restriction SPECIFICALLY for users from the United States. The SEC threatening to sue any exchange that tries to give people a liveable interest rate is unacceptable.

Absolutely NO ONE should have their money in a deposit account giving them an interest rate of 0.025% while the inflation rate is nearly 7%. A 10% Stablecoin interest rate is already 400 times higher than what most banks are offering. Banks know they can't compete for shit, so they choose to sue any competition for as long as possible.

Almost every other western country in the world allow their citizens the freedom to choose where to deposit their money. The SEC threatening to sue any competition just shows how miserable and desperate they are.