US Bankers Warn Stablecoin Yield Workarounds Threaten Local Lending – Decrypt
In brief More than 200 community bank leaders have warned that crypto companies are exploiting regulatory gaps in the GENIUS Act. The ABA estimates up to $6.6 trillion in deposits could flee to yield-bearing stablecoins, threatening credit availability. The OCC chief had previously downplayed banks’ concerns, saying any material deposit flight “would not happen overnight.”...
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