Just to conclude, we want to avoid eroding the deposit base and starving the private sector of conventional bank financing. The GENIUS Act will not erode the deposit base. It will allow banks to issue and custody stablecoins and participate in this emerging crypto economy cementing the dollar as the world's reserve currency, protecting consumers and the deposit base, and supercharging the Treasury market.
Discussing the implications of the GENIUS Act on banking and the economy.
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