According to online reports, the Federal Reserve released minutes of its July meeting, which mentioned that many participants discussed recent and future developments related to payment type stablecoins and their possible impact on the financial system. These participants pointed out that with the recent passage of the GENIUS Act (the U.S. stablecoin Guidance and National Innovation Act), the use of payment stablecoins may increase. They said that payment stablecoins help improve the efficiency of the payment system, and observed that such stablecoins may increase demand for supporting assets behind them, including U.S. Treasury bonds. In addition, participants who expressed their opinions were also concerned that stablecoins may have a broader impact on the banking and financial system and the implementation of monetary policy, so they deserve close attention, including monitoring of various assets used to support stablecoins.