PANews reported on April 8th that, according to the White House website, the US President has signed the GENIUS Act , requiring stablecoin issuers to back their coins with at least 1:1 high-quality assets (US dollars, short-term US Treasury bonds, reverse repos, money market funds, etc.) and prohibiting direct interest payments to holders. A White House Council of Economic Advisers model shows that, under the baseline scenario, "banning stablecoin yields" would actually increase bank lending by approximately $ 2.1 billion, equivalent to only 0.02% of total loans, with a net welfare cost of approximately $ 800 million. Large banks contributed approximately 76% of the new loans, and community banks approximately 24% . Even under extreme assumptions such as all reserves being non-lendable cash and the Federal Reserve abandoning the current framework, the increase in bank loans would only be about 4.4% . The report concludes that the yield ban has minimal effect on protecting bank lending but will weaken the competitive yields offered by stablecoins.