U.S. banking industry groups urged lawmakers and regulators to restrict stablecoin yields, warning that interest-bearing tokens could drain deposits away from traditional community banks

From the articleOCC Asks Community Banks to Issue Payment Stablecoins, Citing GENIUSAlso in US OCC Encourages Community Banks to Enter Stablecoin Issuance Ahead of January GENIUS Act Rollout, OCC encourages community banks to issue stablecoins as federal deadline nears