Back to Banking groups warn stablecoins could drain trillions in deposits under GENIUS Act
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The GENIUS Act allows stablecoin companies to pay interest on their digital tokens.
Explanation
The GENIUS Act explicitly bans stablecoin issuers from paying interest, protecting traditional banks from direct yield competition. However, banks still fear stablecoins' speed and convenience advanta...
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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_blanksHow much money do banks estimate could drain from traditional deposits into stablecoins?
Easymultiple choiceWhich payment companies expressed support for stablecoin integration rather than treating them as competition?
Easymultiple choice
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