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

Tokens pegged to stable value, usually the US dollar, spanning issuers and reserves, depegs, and adoption by banks and payment networks.

Laws and rules for fiat-pegged tokens, from the US GENIUS Act to Europe's MiCA, covering reserves, licensing and yield restrictions.