Banks' survey says people don't want to rock the boat if stablecoin yield risks lending
U.S. banking groups are using new polling to press Congress to curb stablecoin products that pay yield or resemble bank interest, arguing they could weaken community lending and deposit accounts. The American Bankers Association commissioned a Morning Consult survey of 2,000 adults; 57% said Congress should stop crypto firms from offering bank-like interest on stablecoins if it could hurt lending, and 61% favored cautious crypto rules that do not threaten the traditional financial system. The banks want changes to the Digital Asset Market Clarity Act, which would create a federal crypto framework. Under the current draft, platforms could not pay yield on static stablecoin holdings, but could offer rewards for active use. Crypto advocates oppose the bank-backed push and are lobbying for passage of the bill, arguing for a clear federal regime. The legislation still faces committee merger work and possible further revisions before any Senate floor vote.
