Major US banks are lobbying to restrict stablecoin yields through the proposed "GENIUS Act," aiming to limit rewards to trading-based activities or services provided by regulated entities. Cryptocurrency advocates warn that this move will protect traditional banks, reduce consumer choice, and stifle innovation in decentralized finance (DeFi). Industry insiders say that the banking industry's stance has bipartisan support, but numerous obstacles remain as the bill approaches the January 15 review. Critics argue that the focus of this move is on maintaining banks' market share rather than safeguarding consumer safety.