News Explorer — Community Banks Seek Tighter Oversight on Stablecoin Interest Payments

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Jan 7, 10:21 am

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Community Banks Seek Tighter Oversight on Stablecoin Interest Payments

The American Bankers Association's Community Bankers Council is urging U.S. senators to tighten oversight of yield-based workarounds in federal stablecoin rules. More than 200 community bank leaders expressed concern about stablecoin interest payments circumventing Congressional intent through indirect means. The ABA is calling on Congress to clarify the interest prohibition applies to stablecoin issuers' affiliates and partners.

The American Bankers Association's Community Bankers Council is urging U.S. senators to tighten oversight of yield-based workarounds in federal stablecoin rules. More than 200 community bank leaders expressed concern about stablecoin interest payments circumventing Congressional intent through indirect means. The ABA is calling on Congress to clarify the interest prohibition applies to stablecoin issuers' affiliates and partners.

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