Crypto Information Data

A regulatory action I could get behind is rules around the pace and scale at which banks pass on higher rates to retail depositors. Rates at 5.5% in UK and Starling is just now raising my rates but only on the first £5k and dropping them to 0.00% for anything over. Does the bank stop lending my deposits over £5,000? No. Meanwhile borrowing costs like mortgage rates are adjusted daily. The net interest income on an 85K deposit leveraged into an 850k mortgage at 7.5% is >300 times what I earn in interest. This is why so many in this industry are working on an alternative. It’s no wonder we’re being fought so hard by the incumbents and the recipients of their donations and political appointments – they won’t be able to pull shit like this anymore if we have our way.