Over 100 American community bank leaders are urging senators to close loopholes in the stablecoin regulatory framework and warning that up to $6.6 trillion in bank deposits could shift to digital assets if indirect yield incentives are not restricted. They believe that current rules have failed to prevent such compensation, thereby threatening the local lending market. In contrast, JPMorgan has downplayed systemic risks, viewing stablecoins as a complementary payment method. This debate highlights the long-standing conflict between bank deposit protection and cryptocurrency supporters, who interpret these warnings as anti-competitive scare tactics.