Back to Banking groups warn stablecoins could drain trillions in deposits under GENIUS Act
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Easy
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How much money do banks estimate could drain from traditional deposits into stablecoins?
Explanation
Treasury Department analysis warns up to $6.6 trillion could flow from bank deposits into stablecoins if digital currencies offer competitive returns. Traditional banking faces existential threat.
Related Questions
The House passed the GENIUS Act with a {{blank_1}}-{{blank_2}} vote, and President Trump {{blank_3}} it into law in {{blank_4}} 2025.
Easyfill in_blanksWhich payment companies expressed support for stablecoin integration rather than treating them as competition?
Easymultiple choiceThe GENIUS Act allows stablecoin companies to pay interest on their digital tokens.
Mediumtrue false
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