fintech / news / / Topeka Capital-Journal
A loophole in the GENIUS Act allows stablecoin platforms to offer rewards that function like interest on deposits.
A loophole in the GENIUS Act allows stablecoin platforms to offer rewards similar to bank interest.
KEY POINTS
- Stablecoin incentives could prompt up to $6.6 trillion in U.S. bank deposits to move away.
- This shift may result in $325 billion fewer loans for American households and businesses.
- Stablecoin platforms like Coinbase and PayPal are already utilizing these reward programs for their models.
COMPANIES
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