State Bankers Prioritize Senate Outreach on Stablecoin Yield Before Possible Floor Vote

State bankers associations across the US are making coordinated outreach to Senate lawmakers on stablecoin yield a priority at conferences around the country, according to a banking source familiar with the gatherings. On Capitol Hill, the broader debate has shifted toward securing an ethics agreement, reconciling differences between Banking and Agriculture Committee texts and the bill’s treatment of decentralized finance, or DeFi, ahead of a potential floor vote.

Yield remains “very much in play,” particularly as senators outside the relevant committees learn more about the legislation, the source said. Whether the issue reemerges as a defining flashpoint when the bill reaches the Senate floor remains unclear.