Back to Treasury warns stablecoin loophole could threaten $6.6 trillion in bank deposits
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Easy
multiple choice
What primary risk did major banks highlight following passage of the GENIUS Act?
Explanation
Banks warned that stablecoins could attract uninsured deposits—potentially in the trillions—undermining traditional deposit bases and lending capacity.
Related Questions
The GENIUS Act includes dual-supervision rules that may allow nonbank stablecoin issuers access to Federal Reserve facilities.
Easytrue falseOn 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 false
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