According to DL News, citing an opinion from a Georgetown University Law School professor, if the U.S. House of Representatives passes the Senate's Stablecoin Regulation Act (Genius Act) without changing major provisions, U.S. banks could bear the burden if stablecoin issuers go bankrupt.
Opinion: "Stablecoin law would burden US banks in case of issuer bankruptcy"
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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