Eight banking groups on Monday said they want tighter limits on stablecoin rewards, keeping the ongoing banks-versus-crypto dispute alive in Congress.
- Eight U.S. banking groups are urging the Senate to tighten the Clarity Act’s stablecoin reward restrictions, arguing the latest language still leaves room for interest-like payments.
- Banks are targeting a proposed deposit-flight “circuit breaker,” saying regulators should not have to wait for substantial losses of bank deposits before intervening.
- The dispute pits banks’ concerns about deposits and lending against crypto advocates’ argument that stablecoin rewards have not been shown to cause deposit flight and that lawmakers have already addressed the issue.
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The Definitive Stablecoin Landscape Series: Asia Pacific
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Why it matters :
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
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