BPI Argues That GENIUS Act Stablecoin Yield Loopholes Jeopardize the Banking Sector

The BPI explains that as crypto companies circumvent the GENIUS Act guardrails, the difference in yield between ordinary banking products and stablecoins could lead to deposits migrating to the latter, putting the credit creation system at risk of failure and potentially spreading throughout the U.S. economy. Bank Policy Institute Calls for Plugging Genius Act Stablecoin

Source: Bitcoin.com