PANews reported on July 24 that according to CoinDesk, Bank of America said that with the passage of the GENIUS Act, the supply of stablecoins is expected to grow by $25 billion to $75 billion in the short term. The bill lays the foundation for stablecoin regulation in the United States and promotes the development of related infrastructure and tokenized finance. Bank of America also pointed out that the banking industry is preparing to issue stablecoins through a consortium model, and this growth is expected to drive an increase in demand for U.S. Treasuries and promote the widespread adoption of digital assets.