Last year, a bipartisan majority in Congress passed the GENIUS Act, the first ever federal regulatory framework for stablecoins.

As part of the GENIUS Act, Congress made a deliberate policy choice allowing consumers to earn rewards on their stablecoins from platforms and third parties. This decision promotes competition and innovation, and ultimately benefits consumers.

Now, Congress is trying to finalize market structure legislation that provides clear rules of the road for all digital assets in the U.S. This is important progress for crypto users and the crypto industry, but bank industry lobbyists are attempting to manipulate market structure legislation to restrict the stablecoin rewards consumers can earn.