Crypto Bank of America CEO warns interest-bearing stablecoins may draw up to $6 trillion Bank of America CEO Brian Moynihan warned that interest-bearing stablecoins could pull as much as $6 trillion out of the US banking system, saying large-scale deposit migration would reduce banks' lending capacity and push borrowing costs higher. The comments surfaced after a crypto investor shared a screenshot of Bank
Crypto Community bankers ask Senate to close GENIUS Act stablecoin 'loophole' The American Bankers Association’s Community Bankers Council, representing more than 200 US community bank leaders, wrote on Monday to the Senate urging changes to the GENIUS Act to close what it called a "loophole" that allows yield-generating stablecoins to undercut banks. The council said the GENIUS Act
