According to CoinMeta, White House crypto advisor Patrick Witt criticized a proposal by 134 bank leaders to seek restrictions on stablecoin rewards, stating that this move would push the chances of passage of the CLARITY bill to record lows. Witt noted that banks wish to prohibit payments of interest on stablecoins to protect community bank loans, but the CLARITY bill already prohibits such payments. He emphasized that the banks' request is inconsistent with the widespread opposition in the industry to the market structure bill. Bank representatives argue that existing provisions may allow stablecoin platforms to offer benefits with the same economic effect as interest. Signatories to the proposal include leaders from Bank of America, U.S, Bank, Zions Bank, and several other banks.