S&P Global: If the stablecoin bill passes, it will give banks a competitive advantage

Global rating agency Standard Poor's has stated that if the latest stablecoin bill proposed by the US Senate is passed, it may encourage banks to enter the stablecoin market. If banks enter the market, Tether may decline. Standard Poor's also stated that if the new legislation is passed, it will limit the maximum issuance amount for entities without a banking license to $10 billion, giving banks a competitive advantage.