BiyaPay Analyst: Stablecoins Paying Interest at a Crossroads, Coinbase Defies U.S. Congress
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BiyaPay Analyst: Stablecoins Paying Interest at a Crossroads, Coinbase Defies U.S. Congress
According to Bloomberg, Coinbase is intensifying its lobbying efforts on the U.S. Congress to preserve its model of offering rewards to stablecoin holders. The proposed Digital Asset Market Structure Act, currently under discussion, could directly impact Coinbase's USDC-centered stablecoin revenue structure if it further restricts such reward programs. The banking industry strongly opposes the practice, arguing that it diverts traditional deposits and escalates regulatory tensions. BiyaPay analysts指出 that the debate over stablecoin rewards is fundamentally a regulatory battle over whether stablecoins should be classified as having deposit-like attributes—a determination that will profoundly affect the business models of exchanges, wallets, and payment platforms. If rewards are restricted solely to licensed institutions, industry concentration may increase further. On the practical application side, BiyaPay currently supports USDT for trading U.S. stocks, Hong Kong stock futures, and cryptocurrency spot and derivatives, while closely monitoring how evolving stablecoin regulations impact liquidity and user yield models. Going forward, clarity in compliance boundaries will become one of the key variables shaping platform competitiveness.
Navigating Web3 tides with focused insightsTechFlow news, January 12 — According to Bloomberg, Coinbase is intensifying its lobbying efforts on the U.S. Congress to preserve its model of offering rewards to stablecoin holders. The proposed Digital Asset Market Structure Act, currently under discussion, could restrict such reward programs and directly impact Coinbase's USDC-centered stablecoin revenue model. Banks are strongly opposing the practice, arguing that it diverts traditional deposits, escalating regulatory tensions.
BiyaPay analysts指出 that the debate over stablecoin rewards is fundamentally a regulatory battle over whether stablecoins possess deposit-like characteristics. The outcome will significantly affect business models across exchanges, wallets, and payment platforms. If reward programs are restricted solely to licensed institutions, industry concentration may increase further.
On the practical application front, BiyaPay currently supports using USDT for trading U.S. stocks, Hong Kong stock futures, and cryptocurrency spot and derivatives, while closely monitoring how evolving stablecoin regulations impact liquidity and user yield models. Going forward, clarity in compliance boundaries will become one of the key competitive factors among platforms.
