The crypto Clarity Act returns to the Senate this week. The banks are already trying to kill it.

The Senate Banking Committee is set to mark up the Clarity Act, a key U.S. crypto market structure bill.

Major banks and the American Bankers Association want tighter language to block stablecoin rewards they say could act like interest.

Banks warn the current draft could let crypto firms pull consumer deposits away from the banking system.

The outcome could shape U.S. stablecoin rules and the competitive balance between banks and crypto companies.