Senator Cynthia Lummis: Stablecoins Have Not Led to a Loss of Deposits
2026-08-11 04:17:18
According to CoinMeta, Senator Cynthia Lummis stated that some community banks believe stablecoins are causing a loss of deposits, but data indicates otherwise. She pointed out that repealing the Clearing House Act will not help community banks; rather, it will only preserve what they refer to as the current broken status quo. She called for the passage of the act in September.
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