Wall Street Pours Cold Water on New US Stablecoin Law: Don't Count on It to Save US Treasuries

LiquidityWitch

2025-12-03 18:40:20

【币界】美国那个GENIUS稳定币法案刚落地，华尔街这帮老炮儿已经开始泼冷水了。

摩根大通、德意志银行、高盛的策略师们基本是同一个论调：别急着说这会改变游戏规则。核心问题很直接——法案明确规定稳定币不能付利息，这对追求收益的资金来说吸引力有限。

更关键的是美债这块。有分析师直言，就算稳定币规模扩张带动国债购买，实际上可能只是持有人结构在换手，真正的新增需求？没那么乐观。

说白了，立法是个开始，但要说它能立马提振美元需求、拉动美债买盘，市场还在观望。政策框架有了，真金白银的效果还得时间验证。

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LayerZeroEnjoyer

· 12-03 19:10

Here comes another Wall Street trick. As soon as the new bill comes out, it gets dumped. Who would buy interest-free stablecoins anyway?

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ForeverBuyingDips

· 12-03 19:10

Oh, here we go again with Wall Street’s tricks. They call it a bill to make it sound nice, but in reality, it’s just putting more restrictions on stablecoins. No interest payments? Where will the funds go? They’ll still end up buying US Treasury bonds. That’s some loud and clear scheming.

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TokenEconomist

· 12-03 19:09

actually, let me break this down real quick—the no-interest rule is basically a demand killer, right? ceteris paribus, if you're chasing yield, why would you hold dead capital in stablecoins when you've got 5% treasuries sitting there lol

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DaisyUnicorn

· 12-03 19:02

Ha, the Wall Street veterans saw through it at a glance—how could a stablecoin with no interest possibly attract capital? Isn’t this just a castle in the air?

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MaticHoleFiller

· 12-03 18:58

Haha, those Wall Street guys are up to their usual tricks. Whenever something new comes along, they just have to knock it down first. What’s so attractive about a non-interest-bearing stablecoin anyway? Isn’t that just digging their own hole? Let’s wait and see. Policies are one thing, but whether anything really changes needs to be tested in practice.

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