BREAKING: Banks are getting disrupted and they want to block stablecoins!

Wall Street’s biggest banking groups argue that stablecoins could drain up to $6.6 trillion from deposits , threatening the ability of banks to fund ￰0￱ warn this would lead to higher interest rates, fewer loans, and more expensive credit for both households and ￰1￱ compare the shift to the 1980s, when money market funds lured savers away from ￰2￱ say lenders might have no choice but to raise deposit rates or rely on costlier wholesale ￰3￱ banks are especially worried, with community lenders calling the GENIUS Act a direct threat to their ￰4￱ are urging Congress to amend the law, blocking crypto firms from paying yield and stopping state-chartered crypto banks from expanding nationwide.

Meanwhile, crypto advocates argue banks are just trying to protect their turf , claiming stablecoins offer better innovation, consumer choice, and ￰5￱ battle stretches beyond stablecoins into data rights and asset tokenization, where Wall Street insists new digital products must follow the same rules as traditional ￰6￱ momentum is shifting in crypto’s ￰7￱ strong political backing, heavy lobbying, and the White House treating digital assets as a priority, the clash between banks and crypto is escalating into a full-blown turf war .