American Bankers Association (ABA) CEO Rob Nichols has once again called for tighter restrictions on stablecoin rewards, urging a ban on crypto platforms offering deposit-like interest earnings to stablecoin holders through mechanisms like 'rewards' or 'cashback for members.' The ABA warns that such practices could lead to a shift of bank deposits into stablecoins, threatening financial stability and credit supply. The current debate centers on the fact that while legislation prohibits stablecoin issuers from paying yields, platforms like Coinbase and Kraken are still offering USDC users returns of 3.5%-5% through subscription models or rewards programs, which the banking industry views as a regulatory loophole. https://(wublock123.com)/news/aba-ceo-rob-nichols-calls-tighten-stablecoin-yields-60876