2026-01-21 02:41:22

During the推进 process of the stablecoin-related legislation, the profit distribution mechanism has become the core point of contention. Galaxy Digital's head recently stated that this issue could directly impact the passage or rejection of the entire bill.

His main point of view is quite interesting: the banking system is particularly opposed to crypto platforms providing rewards to users. But the problem is that the officially enacted GENIUS Act actually permits such operations. In other words, the existing legal framework has, in fact, given crypto platforms room to operate.

Even more interesting is the counter-logic. If the new stablecoin bill is ultimately rejected, it would maintain the status quo—which is precisely the scenario some forces fear most. This indicates that in financial regulation, the interests between traditional finance and the crypto sector are far more complex than they appear on the surface. Every step in the推进 of the bill is a tug-of-war among different interest groups.

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LiquidatedNotStirred

· 4h ago

The old-school bankers are just afraid that the profit mechanism will be exposed. Once users start earning interest directly through crypto, their deposit rates will be crushed. Vetoing the bill isn't good for anyone? Wake up. For traditional finance, that's the best outcome. Maintaining the status quo allows them to keep earning passively. Why change anything? The existing framework is actually sufficient. The real question is who dares to be the first to take the risk—that's the true game. Honestly, it's still about money. Whoever has more money gets to decide how the bill is written. Even after the GENIUS Act passed, they're still whining. They're really causing trouble here. In this situation, it's hard to tell who will win in the short term, but crypto will definitely have to pay the price and make compromises. Galaxy is right—if this hurdle isn't cleared, the new bill will be dead. This shows you that political struggles are a hundred times more complicated than technical ones.

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CounterIndicator

· 19h ago

Banks are getting anxious. The current legal framework has already provided enough room for crypto. What they're now afraid of is that the bill might fail, which would maintain the status quo. This is a very tough game.

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SandwichDetector

· 19h ago

Those bank people are just afraid of getting wiped out, no wonder they are getting anxious.

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LazyDevMiner

· 19h ago

The people at the bank really can't hold it anymore haha. As soon as they see the revenue mechanism, they start causing trouble, but the GENIUS Act unexpectedly gives crypto a lifeline. The bill being rejected actually maintains the status quo? That's the real win. The more traditional finance opposes, the more it shows they're panicking. This game is quite interesting. Who can truly understand the tangled interests behind it? Stablecoins are just a bargaining chip. It all depends on who has the tougher tactics. The stalemate has reached this point, which shows that crypto is really a threat to people. It's really just a matter of who can cut the leeks more comfortably, openly and honestly. That guy from Galaxy Digital is right; this distribution mechanism is indeed a vulnerability.

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FUD_Whisperer

· 19h ago

What are banks afraid of? They're afraid that users can really make money, haha. --- In this game of chess, whoever refuses loses; both sides are blocking each other. --- GENIUS Act has already loosened restrictions; what's the point of pretending to be chaste now? --- To put it simply, it's still about dividing the benefits; the bill is just a cover. --- Maintaining the status quo might actually be the worst outcome? Then let's keep stalemating and see who gets anxious. --- The core issue of profit distribution: if the bank's share is missing, it won't pass.

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YieldWhisperer

· 19h ago

wait so banks hate yield but GENIUS Act literally already allows it? lmao the mental gymnastics here... sounds like classic regulatory theater where everyone pretends to fight but the loopholes were baked in from day one. seen this exact playbook in 2021 with the derivatives mess

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