Key Highlights
- Thom Tillis and GOP senators are pressing the White House to release a stablecoin study.
- The report examines yield-driven deposit shifts and potential effects on bank lending.
- Findings are said to lean more favorably toward stablecoins, increasing calls for transparency.
Republican members of the Senate Banking Committee are pushing the White House to release an internal study examining stablecoins and their impact on the financial system.
In an X post on Thursday, reporter Eleanor Terrett stated that Senator Thom Tillis and other Republicans raised the issue during a recent meeting with White House Crypto Council Executive Director Patrick Witt, urging that the findings be made public. While some lawmakers have been briefed on the report, it has not been officially released.
Focus on yield and banking system impact
The study, prepared by the White House Council of Economic Advisers, reportedly examines how stablecoin yields could influence deposit flows within the banking system.
One area of concern is whether higher returns offered by stablecoins could draw funds away from traditional bank deposits, potentially affecting lending capacity. The analysis is also said to explore broader implications for liquidity and credit availability.
Internal push to make findings public
According to sources familiar with the discussions, there has been ongoing pressure within both the White House and the Senate to release the report. Republican lawmakers are expected to escalate those efforts, including direct outreach to the administration, in an attempt to bring the findings into the public domain.
While details remain limited, people briefed on the study suggest its conclusions may present a more constructive view of stablecoins than previous government assessments.
This characterization has added urgency among some lawmakers who argue that withholding the report limits informed debate around digital asset policy, particularly as Congress continues to consider legislation in the sector.
Broader debate over stablecoin regulation
The push comes at a time when stablecoins are increasingly central to discussions around financial regulation, payments infrastructure, and banking competition.
Questions around their impact on deposits, monetary policy, and systemic risk have been key points of debate in Washington. The unreleased report could shape how policymakers approach those issues in the months ahead.
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