According to BlockBeats, on July 19, U.S. President Trump signed the (GENIUS Act) on Friday, which prohibits the issuance of yield-bearing stablecoins, cutting off opportunities for both institutions and retail investors to earn interest. These types of stablecoins create interest or returns for holders through yield mechanisms such as staking or lending.
Cryptocurrency analyst Nic Puckrin stated that the cancellation of stablecoin yields "is good news for Ethereum-based DeFi as a major alternative for generating passive income."
CoinFund President Christopher Perkins also stated, "The dollar is a depreciating asset with no yield. DeFi is exactly the place where one can generate yield to preserve value. Therefore, I believe that the summer of stablecoins will turn into the summer of DeFi."
