🚨 Crypto Firms Push Back Against Proposed Stablecoin Reward Restrictions
The Blockchain Association, together with more than 125 crypto and fintech companies, has formally urged the U.S. Senate Banking Committee to halt efforts aimed at expanding restrictions on stablecoin reward programs, particularly those applied to third-party platforms. $XRP
Industry leaders argue that limiting stablecoin rewards could stifle innovation, reduce consumer choice, and undermine competitiveness in the rapidly evolving digital payments ecosystem. $BNB They emphasize that reward mechanisms play a critical role in driving adoption, liquidity, and utility for stablecoins, especially in decentralized finance and cross-platform payment use cases.$SOL
The coalition also warned that overly restrictive rules could push innovation offshore, weakening the United States’ position as a global leader in blockchain and financial technology. As stablecoin regulation remains a key focus for lawmakers, this pushback highlights growing tensions between regulators seeking tighter controls and an industry advocating for balanced, innovation-friendly policy frameworks.
