Banks fight stablecoin rewards under CLARITY as supply reaches $311.332B

US banks and crypto firms are clashing over whether stablecoin rewards should be allowed under the CLARITY market-structure push. Total stablecoin supply reached $311.332 billion in mid-January, according to DeFiLlama, and Standard Chartered has warned about approximately $500 billion of potential deposit outflows by the end of 2028. The GENIUS Act, signed in July 2025, and pending implementation by July this year, frames the backdrop.