US banks warn of $6.6 trillion shift to stablecoins amid GENIUS Act debate

A coalition of US banking groups, led by the Bank Policy Institute (BPI), has urged lawmakers to address a major oversight in the recently passed GENIUS Act stablecoin bill. In an Aug. 12 statement, the BPI conceded that the bill blocks stablecoin issuers from offering direct yields or interest to holders. However, they pointed out The post US banks warn of $6.6 trillion shift to stablecoins amid GENIUS Act debate appeared first on CryptoSlate.