GENIUS Act’s Impact: Will Retail Stablecoins Overtake Traditional Banking?

The long-anticipated clash between crypto and traditional banking systems officially started with the passage of the GENIUS Act. The legislation’s impact is already evident—within two weeks, retail giants like Amazon and Walmart are considering launching their own stablecoins. Kronos Research CEO Hank Huang told BeInCrypto that if more companies adopt this trend, banking systems will have to adapt quickly, especially as money shifts away from traditional deposits. However, consumers who switch to retail-backed stablecoins won’t have the same protections conventional banks offer source: https://beincrypto.com/genius-act-impact-retail-stablecoin-traditional-banking/