On July 14, 2026, major banking groups in the United States intensified pressure on the Senate to review central points of the Clarity Act, especially regarding the regulation of payment stablecoins.
The American Bankers Association (ABA), together with the Independent Community Bankers of America (ICBA) and dozens of state entities, sent a letter to Senate leaders requesting clearer adjustments on yield rules linked to stablecoins.
In the document, addressed to John Thune and Charles Schumer, the groups highlighted concerns about Section 404 of the bill, which deals with the prohibition of direct or indirect interest payments by stablecoin issuers, but still allows rewards linked to activities.
"Significant doubts remain as to whether the current language of Section 404 provides sufficient clarity and certainty to achieve this objective," the associations wrote.
According to the banks, this loophole could allow stablecoins to function as substitutes for traditional deposits, encouraging users to hold balances for long periods and reducing the deposit base of community banks.
This movement, in the entities' assessment, could directly affect local credit. Smaller institutions depend on these deposits to finance sectors such as housing, small businesses, and agriculture, pillars of regional economies.
"Ensuring that stablecoin regulations establish clear and enforceable limits around interest-like incentives and yields is therefore essential to preserving the flow of credit on which local communities depend," the associations stated.
In addition, the groups are calling for the removal of any ambiguous language that allows rewards linked to the holding period or volume held in stablecoins.
"The removal of this provision is aligned with our common objective of not encouraging the idle holding of payment stablecoins for long periods," the associations wrote.
The debate takes place amid a broader clash between the traditional banking sector and cryptocurrency companies, especially over how to balance innovation with financial stability.
At the same time, the Federal Law Enforcement Officers Association (FLEOA) expressed support for the House version of the bill, suggesting improvements to ensure authority on issues such as anti-money laundering and sanctions.
Another unresolved point involves possible ethical restrictions for public officials regarding the use of and profit from cryptocurrencies while holding office.
The Clarity Act remains on the Senate agenda and awaits a floor vote, keeping the stablecoin issue at the center of regulatory discussions in the United States.