According to online reports, according to Phoenix. com, Bank of America Merrill Lynch's latest research report shows that with the gradual implementation of the U.S. stablecoin regulatory framework, stablecoins will have a disruptive impact on traditional bank deposit and payment systems in the next 2-3 years. The President of the United States has signed into law the GENIUS Act, setting a preliminary framework for stablecoin regulation. In the short term, the stablecoin market is expected to grow by US$25 - 75 billion, which will boost demand for short-term U.S. treasury bonds. Although major banks are cautious about domestic payment applications, they generally believe that cross-border payments are a feasible scenario and have begun to deploy related businesses, including JPMorgan's deposit tokens and Bank of New York Mellon's custody services.