House Financial Services' French Hill: Stablecoins Should Not Pay Interest (June 6, 2026)

On June 6, 2026, House Financial Services Committee member French Hill said stablecoins should not pay interest, arguing that yield-bearing designs resemble bank deposits or money market funds and could sidestep obligations banks face. He also pointed to tokenized deposits as an alternative that can settle 24/7 on blockchain while keeping funds inside regulated, federally insured bank accounts.