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
Wells Fargo Bank Adjusts Forecast: The Federal Reserve Will Keep Interest Rates Unchanged in 2026
Gate News announcement, April 6, Wells Fargo adjusted its forecast for the Federal Reserve (U.S. Federal Reserve System) 2026 interest rate policy, expecting the Federal Reserve to keep interest rates unchanged in 2026, whereas the prior forecast was for two rate cuts this year.
GateNews6h ago
Citigroup Adjusts Its Fed Rate-Cut Outlook: Delaying From June to September
Gate News, April 6, Citibank adjusts its expectations for Federal Reserve rate cuts, forecasting that the timing for the first rate cut will move back from the previously expected June to September.
GateNews7h ago
Institution: Cooling expectations for rate cuts, and easing expectations around Middle East conflict or limiting upside space for gold prices
Sky Links Capital CEO Daniel Takieddine said that, as expectations for Federal Reserve rate cuts weaken, the upside potential for gold is limited. The price of gold is influenced by strong U.S. labor data and geopolitical risk. He noted that gold’s near-term performance will depend on U.S. economic data and policy signals.
GateNews9h ago
The Bank of Japan avoids committing to an April rate hike; the market expects a 66% probability of a rate hike this month
The Bank of Japan has issued cautious signals through its quarterly economic report, expressing hesitation about raising interest rates—especially amid rising uncertainty and concerns about price increases. The market estimates the likelihood of a rate hike this month at about 66%. When dealing with inflation, companies continue to face rising costs and consumer fatigue.
GateNews11h ago
CME "Fed Watch": 98.4% probability that the rate will be held unchanged in April
Gate News message. On April 6, according to today's CME “FedWatch” data, the probability that the Federal Reserve keeps interest rates unchanged in April is 98.4%, and the probability of a 25-basis-point rate hike is 1.6%. The probability that the Federal Reserve will keep interest rates unchanged cumulatively by June is 96.6%, the probability of cumulative 25-basis-point rate cuts is 1.8%, and the probability of cumulative 25-basis-point rate hikes is 1.5%.
GateNews19h ago
The U.S. Senate Banking Committee will review the nomination of Wash, the Fed Chair, on April 16
The U.S. Senate Banking Committee will hold a hearing on April 16 to consider Kevin Wosch’s nomination to serve as the Federal Reserve Chair. Although the current chair, Powell, is facing a criminal investigation, Wosch’s nomination process is still ongoing and could conflict with the investigation. Committee member Thom Tillis said he will not confirm Wosch before the investigation is concluded. This shows that Trump faces challenges in advancing two parallel processes.
GateNews04-05 13:31
