GENIUS Act: Is the 'Interest Ban' on Stablecoins Making Digital Dollars Less Attractive?
The GENIUS Act officially prohibits stablecoin issuers from providing yields, effectively cutting off the future of digital dollars earning interest!
This move feels like a 'banking self-protection plan'—preventing digital dollars from accruing interest so that established banks can retain customers with their low-interest deposits.
Meanwhile, tokenized money market funds (MMFs) are quietly gaining traction, not only making money through interest but also enjoying regulatory protection, clearly wearing the 'stablecoin disguise' with both speed and returns.
Figure Markets has launched the first yield-bearing stablecoin security (YLDS) with an annualized return of 3.85%, so you see, yield stablecoins are not dead; they've just changed their securities license and are still breathing.
In summary: the GENIUS Act has blocked superficial innovation but cannot stop the lateral breakthroughs in financial technology. DeFi, MMFs, and yield-bearing assets will continue to evolve within regulatory gaps.
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