In its ongoing debate with US lawmakers that it will hurt the banking industry’s competitiveness, cracking down on stablecoin yield has been a priority of the American Bankers Association (ABA) for 2026. The ABA said Tuesday that one of its many priorities this year is to “stop payment stablecoins from becoming deposit substitutes that cut community bank lending by banning …
Read More »Under one rulebook, U.S. lawmaker as lawmakers work to unify crypto and traditional finance. S S. The Congress is being pressured by banks to narrow down how digital dollars earn returns and how financial data gets shared with the media. The American Bankers Association’s (ABA) 2026 policy priorities call for banning yield on payment stablecoins and revising open banking rules …
Read More »The U.S. Bankers Association and Bank Policy Institute sent several letters to Congress in recent weeks attacking the GENIUS Act, bipartisan stablecoin legislation passed that became law after careful and thorough compromise was made. They don’t point to recent discoveries, or technical defects, that have been found in their arguments. They want Congress to reopen settled law because they don’t …
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