Club for Growth Sends Letters to Sens. Britt, Rounds, and Tillis on Stablecoin Rewards Programs

Washington, D.C. – Club for Growth President David McIntosh issued letters to Senators Katie Britt (R-AL), Mike Rounds (R-SD), and Thom Tillis (R-NC), urging support of preserving consumer rewards and competition in digital asset legislation. The letters offer specific examples of the benefits in the legislation pertaining to each state these Senators represent, and outline a framework that would allow stablecoins to thrive in the United States, including:

1. Promotes competition and innovation. Allow new payment technologies, including stablecoins, to compete on their merits rather than face preemptive bans or restrictions.
2. Protects consumer choice. Preserve Americans’ ability to earn and use rewards, rebates, and loyalty incentives — the tangible value that competition creates.
3. Prevents regulatory capture. Ensure that the market structure framework cannot be used to shield incumbents from competition or to erect new barriers to entry.
4. Respects free enterprise. Avoid expanding federal control over private transactions or imposing restrictions that amount to price controls by another name.

The letters come after Club for Growth President wrote a letter last week to Senators Tim Scott (R-SC), Elizabeth Warren (D-MA), John Boozeman (R-AR), and Amy Klobuchar (D-MN) detailing how stablecoin rewards are lawful, taxable forms of consumer compensation that reduce transaction costs, and calls for lawmakers to adopt a framework that preserves these rewards and incentives while also avoiding regulatory favoritism.

Click here to read the letter to Sen. Katie Britt.

Click here to read the letter to Sen. Mike Rounds.

Click here to read the letter to Sen. Thom Tillis.

Click here to read the previous letter from Club for Growth President David McIntosh.