Banks risk losing $230 billion in payments revenue as stablecoins, tokenized deposits and central bank digital currencies move into wider use, according to a survey conducted by IT services and consulting firm Capgemini.

Capgemini’s World Payments Report 2027 projects those instruments will make up about 4% of global payments volume by 2030, pressuring foreign exchange spreads, correspondent banking, float income and transaction fees that banks thrive on, says Capgemini.

The study says about $4 trillion sits trapped in accounts used to fund cross-border settlement. Nearly 60% of large corporates would take stablecoin services from non-banks if their banks fall behind, even though 71% still prefer banks for tokenized payments when cost and quality are equal.

Only 21% of banks are actively scaling at least one of these tools. Tokenized deposits ranked as banks’ top near-term priority because they stay on balance sheets and fit existing rules. Leaders that are already scaling are three times more likely to find new revenue streams and expect to offset losses in 15 months versus 25 months for other banks.

Capgemini’s global head of payment services Jeroen Hölscher framed the stakes for lenders.

“With $230 billion at stake, banks must decide what role they want to play in this emerging ecosystem.”

The report surveyed 1,110 corporates with more than $1 billion in revenue and 300 banking executives across nine markets. Capgemini is a global consulting and technology firm headquartered in Paris, France.

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The post Banks Risk Losing $230,000,000,000 in Payments Revenue As Stablecoins and Tokenized Deposits Scale, According to Survey appeared first on The Daily Hodl.

Bitcoin Magazine

Republican Senator Steve Daines Releases Text of Proposed Crypto Tax Plan

Republican senator Steve Daines has released a new proposal to update the tax code with regards to digital assets. 

The senator for Montana released the Aligning Digital Assets with Principles of Taxation Act — or ADAPT Act — sponsored by Sen. Daines with Sens. Lummis, Moreno, and Tim Scott on Wednesday, aiming to draft rules for assets like stablecoins. 

Lawmakers and regulators are fast trying to draft rules for digital assets since U.S. President Trump took office on a pro-crypto platform. The Clarity Act collapsed in the Senate last month; one day after, the House Ways and Means Committee overwhelmingly approved legislation that would revamp the tax treatment of cryptocurrency. 

“Digital assets have moved into the mainstream, but the tax code hasn’t kept up,” Senator Daines wrote on X. 

Digital assets have moved into the mainstream, but the tax code hasn’t kept up. My bill would create clearer rules for stablecoins, network fees, staking and lending—while extending familiar tax rules like wash sales and constructive sales to digital assets. pic.twitter.com/W6nXSsTgvX

— Steve Daines (@SteveDaines) September 30, 2026

“My bill would create clearer rules for stablecoins, network fees, staking and lending — while extending familiar tax rules like wash sales and constructive sales to digital assets.”

The bill proposes that everyday users of stablecoins get tax relief for everyday uses. Spending a qualifying dollar stablecoin on goods or services wouldn’t trigger gain or loss, and brokers wouldn’t have to report those transactions. 

To qualify, the stablecoin must be issued under the GENIUS Act framework, appear on a quarterly Treasury list of coins that have held within 3% of $1.00, and have been bought by you within 3% of $1.00. 

Separately, network or gas fees paid in crypto would be tax-free dispositions as long as the fees for a given transaction total $10 or less, with anti-structuring rules. 

The bill would also apply wash sale rules to crypto for the first time. The rules bar investors from claiming a tax loss if they sell an asset and buy it back within 30 days. Stock investors have long been bound by them, while crypto traders could sell at a loss and immediately rebuy. 

The rules would cover traded digital assets other than qualified stablecoins. Assets bought before the bill becomes law would be grandfathered, and staking rewards, mining rewards and regular recurring purchases would be exempt. 

Tokenized versions of stocks would count as “substantially identical” to the underlying shares.

The ADAPT Act now heads to committee, which would need to approve it before it could reach a vote by the full Senate.

This post Republican Senator Steve Daines Releases Text of Proposed Crypto Tax Plan first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.

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