A compromise over whether stablecoin users can receive rewards under the Clarity Act has come back into question after banking lobby groups renewed their objections. Banks argue that if stablecoins offer yields that compete with interest paid on deposit accounts, depositors could shift money out of the banking system. Crypto industry lobbyists say that case is flawed, pointing to today’s lower bank deposit rates, the lack of any large-scale depositor exodus so far, and a business model in which traditional lending now makes up a shrinking share of bank profitability. The renewed clash highlights a broader fight over whether yield-bearing stablecoins should be treated as an innovation in digital payments or as a direct competitive threat to core banking franchises.