A survey by the American Bankers Association shows 57% of adults oppose stablecoin yield products if they threaten community lending.
A new survey commissioned by the American Bankers Association reveals 57% of U.S. adults believe Congress should block crypto firms from offering stablecoin yield products if they risk harming community lending. The poll underscores banking sector opposition to stablecoin yields amid ongoing lobbying efforts against the Digital Asset Market Clarity Act.
The survey also found 30% of adults are likely to buy or use digital assets within the next year. Bankers argue stablecoin yield products could destabilize traditional lending, a key concern as lawmakers debate crypto regulations before the Senate adjourns in the coming weeks.
The American Bankers Association is pushing for last-minute changes to the Clarity Act, which aims to establish a U.S. regulatory framework for crypto. The group’s lobbying efforts focus on rewriting sections related to stablecoin yield to protect community banks.