CoinDesk
The American Bankers Association has unveiled a Morning Consult poll of 2,000 U.S. adults to bolster its campaign against yield-bearing stablecoins, with 57% of respondents saying Congress should block crypto firms from offering bank-like interest on stablecoins if it risks harming community lending. The ABA commissioned the survey as it pushes for last-minute rewrites to the Digital Asset Market Clarity Act, which is racing against the Senate's summer recess calendar.
Why it matters
The Clarity Act as currently written would bar crypto platforms from paying yield on static stablecoin holdings but would allow rewards programs tied to active token use — a distinction the banking lobby wants erased entirely. ABA President Rob Nichols framed the poll as a mandate: "Americans don't want them to put in place rules that undermine lending and economic growth." Critics note the survey's questions were pre-loaded with the assumption that stablecoins pose risks to banking — a framing the crypto sector and White House economists actively dispute.
Market impact
The legislative path remains narrow. The Senate Banking Committee passed a bipartisan compromise, but that text must still be merged with the Senate Agriculture Committee's version before any floor vote. The Blockchain Association is countering with a letter from 160 former law enforcement and intelligence officials backing a federal digital-asset framework. Notably, even the ABA's own poll found 30% of U.S. adults likely to buy or use digital assets in the next year — a signal that consumer demand for stablecoin products is real regardless of how the lobbying battle resolves.
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