White House to release tool disputing stablecoin deposit flight concerns

The Donald Trump administration plans to release a web tool on Sept. 15 to let users test whether stablecoin growth is linked to deposit outflows from regional banks, as the White House pushes back on banking industry concerns over stablecoin provisions in the CLARITY Act and seeks support from Senate Republicans, Semafor reported. The tool will allow users to change assumptions and view outcomes under different scenarios. The White House Council of Economic Advisers previously concluded in its own analysis that there was no meaningful relationship between the two trends.