Recent attitudes of major financial institutions towards the stablecoin ecosystem have attracted attention. From the latest earnings call, globally renowned banks have explicitly stated: while they support blockchain technology itself, they remain highly cautious about certain stablecoin designs.

What are the core concerns of banks? Simply put, those stablecoins that can generate interest income. The reason these products have become targets is straightforward—fast transactions, low costs, and the ability to earn interest. They are gradually becoming as attractive as traditional bank deposits, or even better. This poses a tangible threat to the deposit base of the traditional financial system.

The stance of financial institutions is largely aligned with the regulatory directions being advanced by the U.S. Congress. Legislators are reviewing new digital asset legislation that explicitly targets one goal: to prohibit paying interest solely for holding stablecoins. The purpose of this restriction is clear—prevent stablecoins from evolving into a parallel financial system that is not subject to traditional banking regulation.

Industry executives have stated that the banking sector welcomes innovation and competition, but the premise is that all participants must operate under the same regulatory framework. In other words, if you want to provide services similar to a bank, you must accept banking-level regulation—that is the core point of disagreement in the entire discussion.