US bank lobby sets stopping stablecoin yields as top 2026 priority
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The American Bankers Association (ABA) has prioritized stopping stablecoin yields for 2026, arguing that they threaten the competitiveness of traditional banks. The ABA believes yield-bearing stablecoins could divert deposits from community banks, impacting lending. Despite the GENIUS Act prohibiting interest on stablecoins, the ABA warns of loopholes that could undermine banks. Crypto executives, including Circle's CEO, argue that stablecoin yields enhance customer engagement and competition, while others, like Anthony Scaramucci, suggest that banning them could disadvantage the US dollar against China's digital yuan.
Source: Cointelegraph The copyright of this article belongs to the original author/organization.
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