The American Bankers Association’s fight over stablecoin yields has become its top priority as Congress looks to pass crypto market structure legislation before the midterms.
The American Bankers Association (ABA) has made cracking down on stablecoin yield a top priority for 2026, amid its ongoing debate with US lawmakers that it will hurt the banking industry’s competitiveness.
The ABA said on Tuesday that one of several priorities it has this year is to “stop payment stablecoins from becoming deposit substitutes that slash community bank lending by prohibiting paying interest, yield or rewards regardless of the platform.”
Stablecoin oversight topped a list of five priorities, which also included fighting financial fraud, stopping arbitrary interest rate caps, and focusing on indexing and mission-driven banks. ABA CEO and president Rob Nichols said the priorities are guided by input from various banks and businesses of all sizes and models.
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