The American Bankers Association has listed "preventing stablecoins from earning yields" as a top lobbying priority for 2026

According to market news, the American Bankers Association has listed "preventing stablecoins from generating yields" as its top lobbying goal for 2026. The association believes that interest-bearing stablecoins could become an alternative to bank deposits, potentially leading to the outflow of trillions of dollars from the traditional banking system, thereby weakening banks' lending capabilities and jeopardizing their core role in the financial system.

In response, Circle CEO Jeremy Allaire countered at the Davos Forum that concerns about stablecoin yields affecting bank deposits are "completely absurd," pointing out that yields can enhance user stickiness and that in the future, stablecoins will become a necessary payment system for AI agents to conduct large-scale transactions. Opponents argue that this move aims to protect bank interests, restrict financial technology innovation, and put the dollar at a disadvantage in the competition with China's digital yuan.