Back to Treasury warns stablecoin loophole could threaten $6.6 trillion in bank deposits
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The GENIUS Act includes dual-supervision rules that may allow nonbank stablecoin issuers access to Federal Reserve facilities.
Explanation
The Act’s dual-supervision framework is designed so that both banking and securities regulators oversee stablecoin issuers, which could grant them Fed facility access.
Related Questions
On what date did the House of Representatives pass the GENIUS Act, prompting bank warnings about stablecoin risks?
Easymultiple choiceTrue 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.
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