The battle between Stablecoins and traditional banks intensifies, with the American Bankers Association listing "Ban on Stablecoin Yield" as a top priority issue

By: theblockbeats.news|2026/01/23 19:00:31

In BlockBeats news on January 23, the American Bankers Association (ABA) stated that it will make "Suppressing Interest/Earnings/Reward-bearing Payment Stablecoins" a top policy priority in 2026, showing concerns about stablecoins becoming a substitute for bank deposits.

Earlier this month, Bank of America's CEO warned that if the U.S. Congress does not restrict interest-bearing stablecoins, up to $60 trillion in deposits could move away from banks, representing about 30% to 35% of total U.S. commercial bank deposits. The CEO mentioned that stablecoins operate like money market mutual funds, holding reserves in short-term instruments (e.g., U.S. Treasuries) instead of using them for bank loans as traditional banks do. In this model, funds move outside the traditional banking system, causing a contraction in the deposit base that banks rely on to support household and business lending.

The report believes that stablecoins will strengthen the dominance of the US dollar in the short term, posing risks to the monetary sovereignty of emerging markets and developing economies, while the long-term trajectory will depend on their adoption models, regulatory responses, and the synergy of ...

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