Banks warned that stablecoins could attract uninsured deposits—potentially in the trillions—undermining traditional deposit bases and lending capacity.
On what date did the House of Representatives pass the GENIUS Act, prompting bank warnings about stablecoin risks?
True or False: The GENIUS Act includes dual-supervision rules that may allow nonbank stablecoin issuers access to Federal Reserve facilities.
True or False: If insured deposits erode due to stablecoin outflows, banks may respond by tightening their lending standards.
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