The American Bankers Association (ABA) has released a new survey highlighting public apprehension regarding stablecoin yields potentially jeopardizing bank deposits and lending practices.
The American Bankers Association's latest survey underscores its stance against stablecoin yields.
By Jesse Hamilton|Edited by Nikhilesh De Jun 3, 2026, 9:00 a.m. 3 min read
The American Bankers Association's survey aims to reinforce concerns that yields from stablecoins could threaten traditional banking deposits. (Peter Macdiarmid/Getty Images)Key Takeaways:
- The ABA's survey supports its argument against stablecoin yields, with respondents indicating that such yields should not be permitted if they threaten U.S. lending and community banks.
- Additionally, the survey shows that 30% of U.S. adults are inclined to purchase or utilize digital assets within the next year.
- Banking representatives continue to advocate for amendments to the current version of the crypto Clarity Act, with limited time remaining for the legislation to progress through the Senate.
Article Summary
U.S. banking industry lobbyists have introduced a survey to bolster their arguments against stablecoins that offer users yield, revealing that 57% of respondents believe Congress should prevent crypto firms from providing bank-like interest on stablecoins if it poses a risk to community lending.
Commissioned by the ABA, the survey is part of a broader initiative to influence the legislative process surrounding the Digital Asset Market Clarity Act, which aims to create a regulatory framework for the crypto sector. Banking representatives argue that allowing stablecoin yields would undermine their core business by diverting customers away from interest-bearing deposit accounts.
As the Clarity Act currently stands, crypto platforms are prohibited from offering yields on stablecoin holdings, though they may create rewards programs similar to those of credit cards for active token usage.
“As lawmakers consider establishing a regulatory structure for stablecoins and other digital assets, they must recognize that Americans do not want regulations that could hinder lending and economic growth,” stated Rob Nichols, President and CEO of the ABA.
The survey, executed online by Morning Consult, polled 2,000 U.S. adults with a margin of error of approximately 2%. The survey's framing suggested that stablecoins could pose risks to banking and lending, a viewpoint contested by research from the crypto industry and studies from White House economists.
A separate recent poll by CoinDesk indicated that voters prefer banks over crypto for financial access (65% to 5%), with 52% believing digital assets are more than just a trend.
Despite the ABA's aim to support anti-crypto legislation, their survey results show a notable interest in digital assets, with 30% of respondents indicating a likelihood to engage with digital assets in the coming year, and 24% asserting that stablecoins and crypto could offer substantial benefits.
The survey included 17% of participants who claimed to own digital assets, which is 10% lower than CoinDesk's voter survey findings.
When asked about the regulatory approach to crypto, 61% favored a cautious stance that would not endanger the traditional financial system, particularly community banks, while 15% felt that the safety of the financial system was less critical in regulating digital assets.
Senators currently discussing the Clarity Act have heard extensive arguments from banking representatives and have recently advanced a bipartisan compromise within the Senate Banking Committee. This legislative text must still be reconciled with a similar bill from the Senate Agriculture Committee, and further amendments are expected as the bill moves toward a potential Senate vote.
The crypto sector is actively advocating for the Clarity Act's final passage, countering concerns that the legislation might allow for the misuse of crypto in criminal activities. The Blockchain Association has circulated a letter signed by 160 former law enforcement and national security officials who support the creation of a modern federal framework for digital asset oversight.
The association plans to engage with Senate offices alongside some of these supporters as the Senate session approaches its conclusion before the summer break and the midterm election season ramps up.
Read More: ‘The banks will not accept it’: Dimon escalates battle over stablecoin rewards in CLARITY Act debate
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UK House of Lords committee calls on Bank of England to reconsider proposed stablecoin restrictions
By Jamie Crawley|Edited by Nikhilesh De10 hours agoThe Bank of England proposed limits of 20,000 pounds per coin for individuals and 10 million pounds for businesses.
Key Points:
- A U.K. House of Lords committee has recommended that the Bank of England reevaluate its proposed limits on consumer stablecoin holdings.
- The Financial Services Regulation Committee has also suggested reconsidering the requirement for stablecoin issuers to maintain at least 40% of backing in non-interest-bearing central bank deposits.
- "Rather than preemptively impose holding...