Six US Banking Groups Call for Enhanced Regulation of Stablecoin Yields Even After Clarity Act Committee Passage

Banking Groups Demand Legislative Strengthening

The American Bankers Association (ABA), the Bank Policy Institute, the Consumer Bankers Association, the Financial Services Forum, the Independent Community Bankers of America, and the National Bankers Association, collectively representing six banking groups, issued a joint statement on May 15 following the Senate Banking Committee's passage of the cryptocurrency market structure bill, the 'Clarity Act'.

The groups praised the passage as an 'important step'...