2026-01-12 21:24:49

A certain compliant platform recently raised an interesting question during legislative negotiations—should stablecoins have yields? The logic from the banking side is straightforward: preventing stablecoins from generating yields so that users won't move their money out of deposit accounts. But from the perspective of crypto companies, why should users be deprived of earning opportunities just because they hold stablecoins? This actually reflects a fundamental conflict between traditional finance and on-chain native companies.

In simple terms, regulators need to find a balance between the two—protecting the stability of the traditional banking system while not stifling innovation in the stablecoin sector. But in reality, this balance is very difficult to achieve. If not handled properly, it could directly impact the future development direction of the entire stablecoin market.

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MevWhisperer

· 01-15 13:33

Banks are just afraid that stablecoins will take their business. To put it simply, it's all about conflicts of interest. Being caught between regulation is also uncomfortable.

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AirdropHunterZhang

· 01-15 10:57

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WhaleSurfer

· 01-12 21:54

Bank moat is starting to feel anxious again, indeed --- If there's no yield, you can't keep people; can this logic be more solid? --- Basically, traditional finance is afraid of being eliminated, just blaming regulation --- This is a brilliant question. Why shouldn't stablecoins have yields? --- Regulators caught in the middle are uncomfortable, but in the end, it's the users who suffer --- Banks: If you can't make money, we can't make money either. Let's all just relax --- If stablecoins have no yield, they're purely transitional products, what's there to talk about innovation? --- Now it's all about who can persuade whom. This game isn't over yet

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ChainPoet

· 01-12 21:51

The banks are really panicking, afraid that stablecoins will take away their share of the market, hilarious Blocking funds to prevent earning? Isn't that just a form of monopoly? Regulators are caught in the middle here, it's uncomfortable, but they can't block both ends completely If stablecoins really had no yield, why would users not just store USDT on exchanges for trading? The key is who can tell the story convincingly first and seize that policy window If this negotiation fails, it will be even harder to turn things around later Don't handle it like in China with a one-size-fits-all approach, that would really be the end

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StakeWhisperer

· 01-12 21:32

Banks are afraid that stablecoins with yields will cut into their profits, I can understand that. But if they ban the yields, how can they keep users on the chain? Regulators really need to think carefully about what they want.

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New_Ser_Ngmi

· 01-12 21:28

What are banks afraid of? Isn't it just that stablecoins threaten their livelihood? As for profits, it's essentially a battle of interests. Regulators trying to mediate from the middle is fundamentally an impossible task.

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