125+ Crypto Firms Unite to Defend Stablecoin Rewards Against Banks
Over 125 cryptocurrency companies have joined forces in a joint letter challenging moves by the banking industry to limit how crypto platforms offer stablecoin rewards. The firms argue that bank-led pressure to treat rewards like deposit products would unfairly constrain innovation and reduce options for consumers who use stablecoins for savings, payments and liquidity.
The campaign matters because any restriction could cut yields across centralized and decentralized platforms and slow stablecoin adoption. By coordinating a direct appeal to regulators, the industry aims to push for clearer, targeted rules rather than blanket bans that could spill into broader crypto services. The letter marks an escalation in industry-government engagement and may shape upcoming regulatory guidance and enforcement priorities around crypto rewards and deposit-like products.