The White House Council of Economic Advisers will launch an online tool to rebut the banking industry's concerns about stablecoins.

BlockBeats news, September 15 — The White House Council of Economic Advisers (CEA) will launch an interactive tool on Tuesday that allows users to set their own parameters and run scenarios, in support of its earlier conclusion that "there is no substantive link between stablecoin growth and the loss of community bank deposits."

The move is aimed at winning over Senate Republicans to advance the CLARITY Act, and at responding to banking groups, which said on Monday that the latest revisions to the bill are still insufficient to dispel their concerns over its stablecoin provisions. Several Republican senators have hinted they may vote against it, while pro-crypto Democrats are dissatisfied that the ethics clause does not sufficiently constrain Trump. The bill needs at least 60 votes to advance.