Back to Treasury warns stablecoin loophole could threaten $6.6 trillion in bank deposits
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Easy
multiple choice
On what date did the House of Representatives pass the GENIUS Act, prompting bank warnings about stablecoin risks?
Explanation
The House approved the GENIUS Act on July 17, 2025, triggering debates about its impact on deposit flows and bank stability.
Related Questions
The GENIUS Act includes dual-supervision rules that may allow nonbank stablecoin issuers access to Federal Reserve facilities.
Easytrue falseTrue or false: The FDIC insurance limit per depositor is $250,000.
Easytrue falseIf insured deposits erode due to stablecoin outflows, banks may respond by tightening their lending standards.
Easytrue false
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