ABA Survey: 57% of Americans Oppose Stablecoin Yield Over Banking Risks
In brief
- ABA commissioned survey of 2,000 U.S. adults on stablecoin yield and banking sector risks.
- 57% of respondents support Congressional action preventing crypto firms from offering stablecoin yield returns.
- Banks argue stablecoin yield threatens interest-bearing deposit accounts and customer relationships.
- Survey questions assumed stablecoins pose banking risks, raising framing concerns.
The ABA's polling push
The American Bankers Association commissioned the survey to build public support for stricter stablecoin rules. The online survey was conducted by Morning Consult and polled 2,000 U.S. adults, with a margin of error around 2%. The 57% figure dominates the ABA's messaging—a clear majority, on its face.
But the framing matters. The survey's questions were worded with assumptions that stablecoins are likely to pose risks to banking and lending. That's not neutral polling—that's advocacy research. When you lead with "if stablecoins threaten your community bank," respondents naturally say they don't want that. It's a valid concern, but it's not a spontaneous measure of public opinion.
What the Clarity Act actually says
Under the Clarity Act as written, crypto platforms would not be allowed to offer yield for static holdings of stablecoins, but they may set up rewards programs for active use. Banks aren't satisfied. Their representatives have repeatedly argued to lawmakers and the White House that stablecoin yield offerings would threaten the interest-bearing deposit accounts that fund their lending business.
The ABA is among the banking groups seeking 11th-hour changes to the stablecoin sections of the Clarity Act. ABA President and CEO Rob Nichols framed the push in terms of broader economic health, arguing that Americans do not want rules that undermine lending and economic growth.
The broader picture
The survey does show some appetite for crypto adoption. 30% of those polled said they're likely to buy or use digital assets in the next year, and 24% said stablecoins and crypto could provide "meaningful benefits" to them. Only 17% currently own digital assets, which underscores how nascent mainstream adoption remains.
The Senate Banking Committee has already heard months of arguments from the banks and recently moved forward with a compromise on the Clarity Act crafted by members from both parties. The ABA's survey is a final push to shape that text. Meanwhile, the Blockchain Association has shared a letter signed by 160 former members of the law enforcement, national security and intelligence communities supporting a federal framework for digital asset oversight, signaling that the crypto sector has its own institutional backing in this fight.
