A provision in the Genius Act running through congress rn bans yield-bearing stablecoins in the USA.

This will continue to entrench US banks (who will not pass on the yield to customers), Circle (who also will not pass on the yield), and asset managers who will offer the yield only to other institutions + high net worth clients.

Also, citizens of other countries will inevitably get access to the coming proliferation of yield-bearing stablecoins.

So basically the average American gets screwed. Checks out.