Odaily Planet Daily reports that investment bank TD Cowen states that in the policy debate over stablecoin yields, the banking industry may ultimately be at a political disadvantage. However, ongoing industry battles could slow down or even threaten the progress of the U.S. Crypto Market Structure Act.
Jaret Seiberg, Managing Director of TD Cowen’s Washington research team, pointed out in the report that banks oppose stablecoins offering yields to users, essentially opposing consumers receiving additional returns. Therefore, they are unlikely to maintain a long-term advantage politically. However, if this controversy continues to escalate, it could impact the passage of the CLARITY Act (Digital Asset Market Clarity Act).
At the time of this analysis, the U.S. Office of the Comptroller of the Currency (OCC) is proposing specific rules for implementing the GENIUS Act (Stablecoin Act). According to the proposal, stablecoin issuers are explicitly prohibited from paying interest or yields directly to holders. Additionally, if the issuer coordinates with related entities to pay stablecoin yields through third-party platforms, it may be presumed to be illegal.
OCC stated that it will evaluate cases individually and has opened a 60-day public comment period on the related rules.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
CryptoQuant Analyst: In March, the U.S. CPI month-over-month increase hit a record high; if the U.S.-Iran conflict continues or forces the Federal Reserve to raise interest rates
CryptoQuant analyst Darkfost noted that although March CPI recorded the largest month-over-month increase, core CPI remained stable, indicating that U.S. inflation has not fully spread yet. Attention should be paid to upcoming PCE data. If the Iran-Iraq conflict continues, inflation could evolve into a systemic risk and affect economic growth, and the Federal Reserve may need to continue raising rates to respond.
GateNews10h ago
Hassett: The Strait of Hormuz could be opened within two months, and the Federal Reserve still has room to cut rates
Gate News message: On April 10, U.S. National Economic Council Director of the White House, Hassett, said the Strait of Hormuz could be reopened within two months. In addition, Hassett said the Federal Reserve still has room to cut interest rates, and this outlook will be very solid.
GateNews04-10 13:25
Reuters: The market is pricing in expectations that the U.S. Federal Reserve will keep interest rates unchanged throughout 2026
Gate News, April 10, according to Reuters, the market continues to price in expectations that the Federal Reserve will keep interest rates unchanged throughout 2026.
GateNews04-10 13:06
CME Data: The probability that the Federal Reserve will keep interest rates unchanged in April is 98.4%
Gate News message: On April 10, according to CME "FedWatch" data, before the CPI data is released, the probability that the Federal Reserve will raise rates by 25 basis points in April is 1.6%, while the probability of keeping rates unchanged is 98.4%. Looking ahead to June, the probability of cumulative rate cuts of 25 basis points is 1.5%, the probability of keeping rates unchanged is 96.8%, and the probability of cumulative rate hikes of 25 basis points is 1.7%.
GateNews04-10 12:31
Federal Reserve’s Daly: If the Iran conflict is resolved and oil prices fall, a rate cut “is not out of the question”
Gate News, on April 10, Daly, the president of the Federal Reserve Bank of San Francisco, said that if the Iran conflict is resolved quickly and oil prices fall, a rate cut is “not impossible.” She also noted that the likelihood of a rate hike is lower than the likelihood of cutting rates or keeping interest rates unchanged.
GateNews04-10 12:06
Banking firms such as Australia and New Zealand Banking Group (ANZ) and Goldman Sachs maintain a bullish outlook for gold, with a year-end target price as high as $5,800
Banks such as Australia and New Zealand Banking Group (ANZ) and investment banks like Goldman Sachs predict that gold may rebound in the long term, mainly driven by central bank demand, geopolitical uncertainty, and expectations that the Federal Reserve will cut interest rates. ANZ expects the gold price to reach $5,800 by year-end, while Goldman Sachs maintains a $5,400 outlook, saying that central bank gold purchases will be a support factor.
GateNews04-10 11:45
