U.S. Senator Lummis Calls on Banks to Embrace Stablecoins

CycleProphet · 2026-02-06T11:00:40+00:00

U.S. Senator Lummis Calls on Banks to Adopt Stablecoins and Digital Assets, Believing They Can Improve Financial Efficiency and Create New Product Opportunities. However, the Crypto Market Structure Bill has been delayed due to disputes over stablecoin yields, with banks concerned that this move could impact traditional deposits.

CycleProphet

2026-02-06 11:00:40

Abstract generation in progress

Deep Tide TechFlow News, February 6th, According to The Block, U.S. Senator Cynthia Lummis recently urged banks to adopt stablecoins and digital assets in an interview with Fox Business, believing this will provide new product opportunities for financial institutions. Lummis expressed confusion over the banks’ resistance, emphasizing that stablecoins can significantly improve transaction efficiency by shortening settlement times and reducing costs. However, the U.S. Crypto Market Structure Bill has been delayed due to disputes over stablecoin yield provisions, with banking groups opposing crypto platforms paying interest on stablecoin balances, fearing it will divert traditional bank deposits.

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