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Stablecoin yields banned—Who is behind the scenes manipulating the US "CLARITY Act"?
【CryptoWorld】A major cryptocurrency exchange recently withdrew its support for the US CLARITY Act, which immediately sparked widespread discussion within the community about the true intentions of this legislation.
On the surface, the bill aims to establish clear regulatory boundaries for digital assets. But a closer look reveals issues—specifically, Article 404, which directly bans stablecoin payments of yields. This isn’t about regulatory clarity; it’s clearly about protecting traditional banks.
Industry analysts pointed out a key figure: 6.6 trillion. This is the size of deposits in the US banking system. Think about it—if stablecoins can offer competitive yields, the inflow of deposits and lending capacity to traditional banks would be significantly reduced. Such a threat is no small matter for the financial system.
Why did the exchange suddenly change its stance and support this bill? Some speculate that it might be to protect its market position. Looser regulatory rules would indeed attract more well-funded new entrants, which could threaten existing leading companies. So, rather than be overtaken by new competitors, it’s better to set the rules first.