Bank Lobby Targets Stablecoin Yield and Open Banking in Policy Push

Source: CryptoNewsNet Original Title: Bank lobby targets stablecoin yield and open banking in policy push Original Link: As lawmakers work to unify crypto and traditional finance under one rulebook, U.S. banks are pressing Congress to narrow how digital dollars earn returns and how financial data gets shared.

The American Bankers Association’s (ABA) 2026 policy priorities call for banning yield on payment stablecoins and revising open banking rules to promote what it describes as consumer protection and competitive balance.

Critics – largely in the crypto and fintech industry – argue the approach would tilt the playing field toward banks by limiting how crypto wallets, stablecoin issuers, and fintech apps reach users during a pivotal moment for U.S. crypto regulation.

Those positions land as the Senate struggles to advance a sweeping crypto market structure bill that would define how federal regulators oversee digital asset markets. Stablecoin yield has emerged as one of the most contentious issues in those talks, contributing to last week’s postponement of a key Senate Banking Committee markup after a certain head exchange withdrew support.