Bank of America CEO Brian Moynihan warned during Wednesday's earnings call that if Congress allows stablecoin payments to earn interest, it could lead to the transfer of up to $6 trillion in deposits from the US banking system into stablecoins. This figure accounts for approximately 30% to 35% of total deposits in US commercial banks. Moynihan pointed out that stablecoins are structurally similar to money market mutual funds, whose reserves typically hold short-term instruments such as US Treasuries, rather than being used for loans like bank deposits. If deposits are lost, banks' lending capacity will be impaired, or they may need to seek more expensive wholesale funding.