US Banks Intensify Opposition to Stablecoin Yield Compromise, Send 8,000 Letters to Senate
Suehyeon Lee
Summary
- US banks are escalating opposition to a compromise on stablecoin yield payments.
- Member banks of the American Bankers Association have sent more than 8,000 letters to Senate offices seeking changes to the compromise.
- The Senate Banking Committee is set to begin markup of the CLARITY Act on May 14.
Forecast Trend Report by Period
US banks are escalating their opposition to a compromise proposal on stablecoin yield payments.
Eleanor Terrett, host of CryptoAmerica, said member banks of the American Bankers Association have sent more than 8,000 letters to Senate offices since Friday, May 9.
The letters call for changes to a compromise now under discussion on stablecoin yield payments. No separate phone campaign has been organized.
The Senate Banking Committee is scheduled to mark up the CLARITY Act, including the provision, on May 14.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.