77 banking associations seek ban on stablecoin holding rewards in CLARITY Act
- —77 banking associations are seeking amendments to sections 10404(c)(1) and 10404(3)(B) of the CLARITY Act
- —The demand effectively bans rewards for stablecoin balances and holding periods
- —Coinbase's program paying rewards for holding USDC is in the crosshairs
- —In July 2026, a similar letter was signed by 76 associations
Why it matters: A ban on yield-bearing stablecoins would hit USDC and Coinbase, reducing the appeal of holding stablecoins versus bank deposits.
Source: Crypto Briefing