Back to Banking groups warn stablecoins could drain trillions in deposits under GENIUS Act
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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.
Explanation
The GENIUS Act passed with overwhelming bipartisan support (308-122) and Trump signed it in July 2025, creating the first comprehensive stablecoin regulatory framework. This speed suggests both partie...
Related Questions
How 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 choiceThe GENIUS Act allows stablecoin companies to pay interest on their digital tokens.
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