TechFlow news, July 21 — According to Phoenix News, Bank of America Merrill Lynch's latest research report indicates that as the U.S. stablecoin regulatory framework gradually takes shape, stablecoins will have a disruptive impact on traditional bank deposits and payment systems within the next two to three years. The U.S. President has signed the GENIUS Act, establishing a preliminary regulatory framework for stablecoins. In the short term, the stablecoin market is expected to grow by $250–750 billion, boosting demand for U.S. short-term Treasury securities. While major banks remain cautious about domestic payment applications, they generally view cross-border payments as a viable use case and have begun positioning themselves in related businesses, including JPMorgan Chase's deposit tokens and BNY Mellon's custody services.
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