U.S. Senators Get 250K Letters Calling for Protection of Stablecoin Yields

Stand With Crypto encouraged the messaging from its monolithic online database of advocates, asking the lawmakers to permission the GENIUS Act alone.

Oct 8, 2025, 8:11 p.m.

In reply to Wall Street slope lobbying, crypto radical Stand With Crypto said it enlisted its online members to nonstop a message much than 250,000 times to the U.S. senators successful their states, pushing backmost connected the bankers' effort to stymie the avenue for stablecoin rewards successful the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act.

The missive crafted by Stand With Crypto — a U.S. pro-crypto subordinate enactment initially established by Coinbase — urges lawmakers to disregard the banking advocates who launched an August effort to rewrite the law to wholly shutter stablecoin issuers' quality to connection yields to users.

"Lawmakers chose to support rewards due to the fact that you cognize they are for consumers," according to the signifier missive acceptable up to beryllium automatically sent to politicians successful each member's authorities if the subordinate chooses to execute it. "A prohibition connected rewards would halt consumers from earning worth connected afloat backed integer dollars, adjacent arsenic banks lobbied to support their recognition paper rewards arsenic precocious arsenic past year."

The GENIUS Act, which became instrumentality earlier this twelvemonth and is already successful the midst of adoption by national regulators, blocks stablecoin issuers from offering involvement oregon output directly, but it doesn't halt the issuers' affiliates oregon exchanges from doing so. As a result, the bankers person argued determination could beryllium a monolithic nonaccomplishment of deposits and money-market money enactment arsenic this rivalry from stablecoins emerges.

"Congress indispensable support the travel of recognition to American businesses and families and the stableness of the astir important fiscal marketplace by closing the stablecoin outgo of involvement loophole," groups including the American Bankers Association, Bank Policy Institute, Financial Services Forum and others argued successful their ain campaign.

Crypto lobbyists had quickly responded to the bankers, seeking to support the GENIUS Act — the archetypal large crypto instrumentality approved successful the U.S.

While the U.S. Treasury Department and different fiscal regulators person said they've begun trying to instrumentality the stablecoin law, their workers who would beryllium crafting those regulations are mostly derailed from that effort astatine the moment. The U.S. authorities is mostly closed due to the fact that of a budgetary shutdown arsenic Congress fto the national spending program lapse and hasn't yet agreed connected a mode forward.

Stand With Crypto reports much than 2.7 cardinal crypto fans person signed up with the organization.

Bank of England Plans Exemptions to Stablecoin Limits: Bloomberg

The BoE volition assistance waivers to immoderate businesses similar crypto exchanges that request to clasp ample amounts of the tokens.