Acting Comptroller of the Currency Jonathan Gould has publicly addressed concerns regarding potential deposit flight in the stablecoin sector, emphasizing the resilience of current financial structures. His remarks come as major banking associations intensify calls for congressional action to address perceived regulatory gaps in the proposed Generating New Opportunities for Stablecoins (GENIUS) Act.
During recent policy discussions, Gould characterized fears of stablecoin-related bank runs as overstated, pointing to existing safeguards within the financial system. The official’s comments arrive amid growing debate about how stablecoins should be integrated within the broader financial regulatory framework.
Meanwhile, banking industry representatives have escalated their campaign for legislative clarity, specifically targeting provisions in the GENIUS Act that could permit yield-generation mechanisms for stablecoins. Industry groups argue that without specific congressional intervention, these instruments might operate outside traditional banking regulations.
The evolving dialogue reflects broader tensions between innovation in digital assets and established financial oversight mechanisms. Regulatory authorities continue to monitor stablecoin development while balancing concerns about systemic risk with the need for technological advancement in payment systems.
