PANews reported on May 14 that the minutes of the April 10 meeting disclosed recently showed that members of the Federal Reserve's Community Depository Institutions Advisory Committee (CDIAC) expressed concerns about stablecoins issued by non-bank institutions. The committee believes that such stablecoins may accelerate the outflow of bank deposits and weaken the ability of community banks to provide loans to small and medium-sized enterprises and households. The committee compared stablecoins to the impact of money market funds on the banking industry in the late 20th century, pointing out that they are similar to central bank digital currencies (CBDCs) and may divert the deposit base of the banking system. It particularly emphasized that stablecoins are currently not subject to the same liquidity regulatory requirements, which may cause banks to reduce their credit scale, especially affecting small borrowers who rely on local bank services. The committee recommends that stablecoins be included in the financial stability regulatory framework, requiring unified standards for banks and non-bank issuers to prevent regulatory arbitrage. This position echoes the statement made by Federal Reserve Chairman Powell on April 16 - although he acknowledged the broad appeal of stablecoins, he emphasized the need to establish an appropriate regulatory system.