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ABA and state banking groups seek changes to CLARITY Act stablecoin yields
The groups say the bill’s stablecoin yield language is too ambiguous and could let payment stablecoins function like deposit substitutes, ahead of a House hearing.
The American Bankers Association, the Independent Community Bankers of America, and 76 state banking associations have asked Senate leaders to revise the stablecoin yield provisions in the Digital Asset Market Clarity Act, known as the CLARITY Act.
In a joint letter, the banking groups argued that the current wording on stablecoin interest, yield, and rewards is unclear. They said proposed changes should help ensure payment stablecoins are treated as transaction tools rather than operating as substitutes for deposits.
The pushback is timed ahead of a House of Representatives hearing scheduled for Friday, while the CLARITY Act is intended to set the first US regulatory framework for digital assets.
Cointelegraph also noted that the renewed industry resistance aligns with Galaxy Digital’s earlier view that the Senate may be running out of time to pass the measure before year end. Galaxy Digital had cut its 2026 odds for the bill to 50% on June 26, citing unresolved text and a narrowing legislative window.