U.S. banks fear losing up to $6.6 trillion in deposits to stablecoins

Some U.S. banks are panicking over a growing threat: stablecoins. They’re not worried about volatility or speculation; they’re worried about losing trillions in customer deposits. This week, that anxiety got louder after lawmakers in Washington passed the GENIUS Act, a bill that lays out legal rules for stablecoins in the U.S. The House of Representatives […]

Source: cryptopolitan.com (Read Full Article)