The American Bankers Association is doubling down on efforts to convince policymakers to outlaw yield payments for stablecoins, urging banking CEOs and their clients to flood U.S. senators with letters and calls as a forthcoming crypto market structure bill presents an opportunity to solidify the prohibition. The lobbying push targets the forthcoming crypto market structure bill, which could codify the prohibition.
Industry observers say the push reflects ongoing debates about stablecoins’ regulatory treatment, consumer protections, and financial stability. The outcome could influence how stablecoins are used in payments and yield strategies across the sector.
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