Crypto World News reports that Wu said on Twitter that the White House Council of Economic Advisers report states that if stablecoin yields are fully banned, U.S. bank total loans will only increase slightly by 0.2%, but consumers will lose about $800 million in net welfare each year. The report notes that stablecoin reserves are mainly allocated to U.S. Treasuries and repurchase agreements, with the funds still circulating within the financial system, and it refutes earlier predictions that stablecoins would result in massive loan losses.