GENIUS Act could mark end of banking rip-off: Multicoin exec

The **GENIUS Act** could revolutionize traditional banking by unleashing fierce competition between legacy banks and **stablecoin** issuers for retail deposits, according to Multicoin Capital executives. This groundbreaking **cryptocurrency** legislation promises to end banking monopolies and deliver significant benefits to everyday consumers.

The stablecoin-focused regulation will enable **DeFi** platforms and digital asset companies to directly compete with traditional financial institutions for customer deposits. This paradigm shift could dramatically reduce banking fees and improve services as institutions fight for market share in the evolving **blockchain** ecosystem.

**Bitcoin** and broader cryptocurrency markets stand to benefit from increased mainstream adoption as stablecoins gain regulatory clarity. The legislation represents a pivotal moment for **digital assets**, potentially accelerating the integration of traditional finance with decentralized protocols.

Industry experts predict this regulatory framework will democratize financial services, giving consumers unprecedented choice between conventional banks and innovative **crypto** solutions. The GENIUS Act's implementation could mark the beginning of a new era where blockchain-based financial products challenge established banking practices, ultimately driving down costs and improving accessibility for retail investors seeking alternatives to traditional banking services.