The banking lobby is wrong about stablecoins and community banks
2026-06-24 14:50:22
The banking lobby’s claim that stablecoins will hollow out community banks is not supported by data and should not drive U.S. legislation, according to CoinDesk, as Congress debates the Digital Asset Market Clarity Act after it advanced out of the Senate Banking Committee on a 15-9 bipartisan vote. Eco CEO Ryne Saxe argues stablecoins are a major upgrade to payment infrastructure and a new settlement layer, not a “bank run in disguise,” noting stablecoin supply has exceeded $300 billion and that community banks’ strength lies in relationship-based lending rather than payments rails.
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