美国银行业协会最后关头施压国会：警告稳定币“收益条款”或引发存款外流风险

Odaily Planet Daily News: On the eve of a key vote by the U.S. Senate Banking Committee on comprehensive cryptocurrency legislation, American Bankers Association (ABA) CEO Rob Nichols issued an emergency letter to bank executives, urging them to immediately contact senators to push for revisions to stablecoin-related provisions.

Nichols warned that the current draft fails to effectively prevent crypto companies from using "interest-like rewards" to attract stablecoin deposits, which could lead to a massive shift of bank deposits into stablecoins, thereby threatening economic growth and financial stability. In the letter, he stated that this is "an urgent advocacy battle that requires immediate action."

The bill was originally designed to establish the first federal unified regulatory framework for the crypto industry and clarify the responsibilities of various regulatory agencies. However, the controversy over stablecoin yields has consistently been a core obstacle to the legislation. The banking industry is concerned that although the relevant framework of the "GENIUS" Act passed last year prohibits issuers from directly paying interest, it still allows platforms to offer rewards as a disguised form of yield, thereby weakening the capital base of the banking system.

After multiple rounds of negotiations, bipartisan senators proposed a compromise: banning "regulated entities" from providing interest or equivalent yield to token holders in any form, while allowing reward mechanisms based on transaction or usage behavior. However, banking groups subsequently raised objections, arguing that the wording leaves "room for circumvention," such as models that offer fixed rewards based on holding size, which could be interpreted as a form of disguised interest.

Currently, the Senate Banking Committee is expected to hold a review vote on the bill this Thursday, with the regulatory boundary around stablecoin yield mechanisms remaining one of the most significant points of contention. (The Block)