Senator Cynthia Lummis urged traditional banks to view stablecoins and digital assets as new business opportunities instead of resisting them, highlighting their potential to provide banks with innovative financial products and faster, cheaper services. She argued stablecoins could boost both domestic and international transactions with added safety through Federal Reserve collaboration. Negotiations over crypto market structure legislation are stalled, amid banking industry fears that stablecoin rewards could prompt deposit flight, particularly from community banks. Digital asset analyst Nic Puckrin described delays as dampening digital asset prices and noted stablecoins’ strategic importance for the U.S. dollar. Coinbase CEO Brian Armstrong recently withdrew support from the legislation over disagreements about stablecoin yields, leading to cancellation of the bill’s markup. Lummis countered banks’ opposition, asserting stablecoins create new revenue streams, including custody services, and said that lawmakers are still seeking compromises on the legislation’s language. Senate Majority Leader John Thune promised to allocate floor time for the bill later in the spring. Treasury Secretary Scott Bessent told lawmakers the CLARITY Act must pass, criticizing opponents.