Rolando Noria Leonardo
Rolando Noria Leonardo
Mexico
2mo
++++++๐— ๐—ฎ๐˜† 2026++++++ ๐Ÿ†ƒ๐Ÿ…ท๐Ÿ…ด ๐Ÿ…ถ๐Ÿ…ด๐Ÿ…ฝ๐Ÿ…ธ๐Ÿ†„๐Ÿ†‚ ๐Ÿ…ฐ๐Ÿ…ฒ๐Ÿ†ƒ: ๐Ÿ…ท๐Ÿ…พ๐Ÿ†† ๐Ÿ…ณ๐Ÿ…พ๐Ÿ…ด๐Ÿ†‚ ๐Ÿ…ธ๐Ÿ†ƒ ๐Ÿ…ฐ๐Ÿ…ต๐Ÿ…ต๐Ÿ…ด๐Ÿ…ฒ๐Ÿ†ƒ ๐Ÿ…ฒ๐Ÿ†๐Ÿ†ˆ๐Ÿ…ฟ๐Ÿ†ƒ๐Ÿ…พ๐Ÿ…ฒ๐Ÿ†„๐Ÿ†๐Ÿ†๐Ÿ…ด๐Ÿ…ฝ๐Ÿ…ฒ๐Ÿ…ธ๐Ÿ…ด๐Ÿ†‚? โœ…๐˜๐˜ฏ ๐˜ฎ๐˜บ ๐˜ท๐˜ช๐˜ฆ๐˜ธ, the GENIUS Actโ€™s stablecoin framework is likely to drive a net inflow of capital into the U.S. financial system. The regulation is far from triggering the destructive deposit flight that banks have warned about. Most likely, between 60% and 70% of the stablecoin growth generated under the new regulatory framework will originate from offshore sources outside the United States. In practical terms, this implies that for every dollar migrating out of U.S. bank deposits, approximately two dollars could flow in from abroad. As a result of this foreign-exchange inflow, rather than the deposit contraction highlighted by banks, the U.S. banking system would likely experience a positive net reallocation effect. In addition, each incremental dollar in stablecoins could generate roughly 32 cents of net credit creation for the U.S. economy. The alleged โ€œdeposit flightโ€ would therefore not only be offset by offshore flows, but could also produce an additional effect of accelerated dollarization worldwide. The U.S. dollar system would expand at the expense of local banking systems in countries with weak institutions, limited monetary credibility, or capital controls. Stablecoins regulated under the GENIUS Act are effectively accelerating capital migration into the U.S. financial system from economies under stress. The result is that, while some local banks outside the United States may lose deposits, the dollar strengthens structurally as a global store of value. In that context, the U.S. financial system would import increasing amounts of net liquidity over time. This challenges the arguments advanced by U.S. banks against the regulation enacted in July 2025, which remains in the implementation phase. Banks continue to warn about potential systemic risks, including bank runs and a possible erosion of the dollarโ€™s influence. Banks are mistaken in their assessment of stablecoins. Rather than representing a threat, the regulated expansion of these assets constitutes a strategic opportunity for the United States.
Not investment advice. The author may have financial interests in the mentioned instruments.
null
.