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Bank Of America CEO Warns of $6T Stablecoin Threat to Banking Deposits

Bank Of America CEO Warns of $6T Stablecoin Threat to Banking Deposits

Author:

Global Cryptocurrency

Published:

2026-01-16 11:18:01

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BTCCSquare news:

Bank of America CEO Brian Moynihan has issued a stark warning about the potential migration of up to $6 trillion in bank deposits to stablecoins if Congress fails to prohibit interest payments on the tokens. The alarm comes as debate intensifies over the GENIUS Act, the US's proposed stablecoin legislation.

Moynihan cited Treasury Department studies suggesting 30-35% of all US commercial bank deposits could flee to stablecoins, drawing parallels to money market mutual funds. Banking associations are urgently lobbying Congress to amend the legislation to cover crypto exchanges and brokers, not just issuers.

The financial sector's anxiety reflects growing institutional recognition of stablecoins' disruptive potential. As regulatory frameworks evolve, the battle over banking system liquidity versus crypto innovation is reaching a critical juncture.

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