Cointelegraph reported that Abhi Srivastava, Vice President of Moody's Investors Service, stated, "The risk of disruption that stablecoins currently pose to the banking sector is limited." He explained, "Despite the stablecoin market size exceeding $300 billion, it is difficult for them to replace bank deposits in the short term due to the U.S. interest prohibition policy and the competitiveness of existing payment infrastructure. However, in the long term, the expanded adoption of stablecoins and real-world assets (RWA) could potentially lead to a weakening of banks' deposit bases and a decrease in lending capacity." Meanwhile, the CLARITY Act, a comprehensive cryptocurrency market regulatory framework bill, is still pending in Congress.
