Banking in America is a barely profitable and highly fragile industry that may soon cease to exist if the government doesn’t introduce onerous rules that hurt consumers, throttle technology and deter competition.

Or at least that’s the message being bellowed in Washington by the banking industry, as it attacks the recently passed bipartisan Genius Act and a long-overdue upgrade of the U.S. dollar DXY. Their latest gripe is that stablecoins — digital dollars that offer faster, cheaper and programmable payments — will drain the banking system of the deposits it needs to provide mortgages and finance entrepreneurs.