July 21, 2025
FDIC and Fed project banking crisis from unregulated stablecoins
Federal Reserve warns stablecoins could drain $3T from banks
🔒Digital Rights💰Economy💡Technology
Traditional banks and the Federal Reserve on July 18, 2025, warned that U.S. dollar–pegged stablecoins like Circle and Tether could siphon off more than $3 trillion in customer deposits, undermining lending models and stressing insurance frameworks.
They cautioned that the GENIUS Act’s reserve rules may give nonbanks an upper hand in liquidity access.
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🔒Digital Rights💰Economy💡Technology