American Bankers Association Opposes Stablecoin Yield Amid Clarity Act Debate

The American Bankers Association (ABA) has released a survey supporting its stance against stablecoin yields, arguing they could threaten U.S. lending and community banking. According to CoinDesk, the survey found that 57% of respondents believe Congress should prevent crypto firms from offering bank-like interest on stablecoins if it harms community lending. The ABA is lobbying for changes to the Digital Asset Market Clarity Act, which currently prohibits yield on static stablecoin holdings but allows rewards for active use. The survey also revealed that 30% of U.S. adults are likely to buy or use digital assets in the next year.