Banks move to shut down stablecoin yield

The American Bankers Association is pushing to close the so-called “stablecoin loophole” as the CLARITY Act slips to at least March 2026.

Banks warn that up to US$6.6 trillion in deposits could migrate to crypto if exchanges are allowed to keep paying rewards on stablecoins.

If their lobbying succeeds, the impact on U.S. DeFi access could be far bigger than most users expect.