Banks take on crypto groups over US Clarity Act

By Neil Roland ( January 7, 2026, 23:48 GMT | Insight) — Banking and cryptocurrency groups are clashing over digital market structure legislation that has passed the US House and is due to be taken up in the Senate. The main issue: how to plug what banks see as a harmful gap left in the July 2025 GENIUS Act’s prohibition against stablecoin issuers drawing interest or yield. Crypto issuers have evaded this prohibition by partnering with digital exchanges and others to enable them to incentivize customers to park savings in interest-bearing stablecoins and disrupt bank lending, according to letters to Congress.Banking and cryptocurrency groups are clashing over digital market structure legislation that has passed…

Banks take on crypto groups over US Clarity Act | MLex