US banking groups are calling for a fix to the Genius Act stablecoin yield loophole
2025-08-13 04:58:31
According to Cointelegraph, several banking groups, including the Bank Policy Institute (BPI), have issued a warning to Congress to close a regulatory loophole in the GENIUS Act regarding stablecoin returns. The loophole allows stablecoin issuers to provide returns to holders through affiliates. Banking groups say this could lead to up to $6.60 trillion in deposits flowing out of the traditional banking system, affecting the supply of credit and driving up borrowing costs.
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