The Wall Street Journal published an article suggesting that although laws like the GENIUS Act aim to improve the safety of stablecoins, the inherent risks stemming from their 'private currency' nature remain difficult to eliminate. The article points out that stablecoins operate on proprietary and decentralized infrastructures, lacking the 'singularity' of bank deposits backed by the Federal Reserve's clearing system. Issuers are also incentivized to pursue higher-yield assets, which could lead to redemption pressures and forced asset sell-offs if market confidence declines. The article also mentions that the primary use of stablecoins is still in crypto trading, with 84% of illegal crypto activities (such as sanctions evasion and money laundering) linked to stablecoins. While the total market size of stablecoins is around $300 billion, payments tied to the real economy account for less than 1%. As banks begin to roll out alternatives like 'tokenized deposits,' stablecoins may need to undergo strict regulatory integration similar to traditional banks to truly integrate into the economic system. https://(wublock123.com)/news/wsj-stablecoin-market-300bn-volume-real-economy-payments-under-1-61643