CoinVoice has recently learned that the Genius Act passed by the U.S. Senate is attracting attention from the banking and legal sectors, according to DL News. The bill grants stablecoin holders a priority claim on their supporting assets in the event of bankruptcy, potentially exposing traditional banks and other clients to risk. Georgetown University Law Professor Adam Levitin warned that this arrangement essentially 'subsidizes stablecoin issuance at the expense of bank deposits,' which could harm the interests of regular bank customers, especially in cases where the stablecoin issuer or its custodian bank goes bankrupt. The current version of the bill stipulates that stablecoins must be backed by highly liquid assets (such as U.S. Treasuries), and issuers are required to disclose reserve status monthly and possess the ability to freeze tokens. If passed, banks and other entities will be able to issue compliant stablecoins. The bill is currently awaiting consideration by the U.S. House of Representatives. Although it aims to enhance user confidence and strengthen the connection between stablecoins and the real financial system, its bankruptcy priority design has sparked discussions on regulatory logic, financial stability, and potential interbank interest distribution. Industry insiders suggest that this bill could become a turning point for stablecoin development while also heightening concerns about its impact on the traditional financial system. [Original link]