Core Viewpoint - Banks' concerns regarding stablecoins are primarily driven by a desire to protect their revenue streams rather than genuine threats to the financial system [2][3]. Group 1: Banks' Concerns - The central claim that stablecoins will cause a mass outflow of bank deposits is unfounded, with recent analysis showing no meaningful link between stablecoin adoption and deposit flight for community banks [2]. - Banks are motivated to oppose stablecoins because they threaten the $187 billion yearly revenue from swipe fees, as stablecoins offer cheaper and faster money transfer options [2]. Group 2: Historical Context - The banking industry has a history of opposing technological advancements such as ATMs and online banking, often citing consumer harm or financial stability concerns, while actually trying to protect their profit margins from competition [3]. Group 3: Regulatory Changes - Recent changes in federal policy, particularly from the Office of the Comptroller of the Currency (OCC), have allowed banks to engage in crypto-related activities, reshaping the competitive landscape [5][6]. - The OCC's new stance indicates that activities related to digital assets should not be stigmatized, which could disadvantage smaller banks that previously relied on regulatory protections [5][6].