Existing legislative proposals in both the Parliament and the Senate stablecoin from producing interest for the owners.
While there is an acceleration in the United States for a final regulation for Stablecoins, nonsense Industry and congress are becoming more prominent.
There is a basic question at the center of the discussion: Take the existence digital ancorati take dollaro As with the bank savings accounts, can you get interest for those who hold them?
According to the main law, the answer is a solid no. Oppression Brian ArmstrongCEO of Coinbase, one of the most important stock markets in the world, has not been in vain.
Armstrong Wanting to rethink the position of the Congress, but immediately rejected the republican leadership in the Assembly.
Reasons behind the Congress
According to the deputy French hillThe President of the Assembly Financial Services Committee, the nature of Stablecoins should be clearly defined: these are not an investment tool, but Payment Tools.
“Congress had a general consensus that Stablecoins should serve to increase productivity in payments. This is not a complex issue: it should not be considered as investment.”–
Hill told the press.
This vision, which prohibits the yield on Stablecoin, is the basis of the support of the parties that the product has so far received by the legislation on the subject. Changing this part of the bill can weaken the fragile political balance obtained.
Brian Armstrong’s attractiveness for interest produced by Stablecoin
On Monday, CEO Coin He criticized the restrictions specified in the draft law and made a direct objection through social media. Armstrong, to prevent Stablecoins from offering interestIntentionally prefers the traditional banking industry At the expense of the crypto industry. “
Currently Coinbase allows users to earn efficiency. 4.1% annually in deposits in USDCThe most commonly used stablecoins was fixed to the dollar. This ratio, offered by typical safety accounts, makes Stablecoins a potentially attractive tool for millions of Americans.
According to Armstrong and other industry leaders, it means allowing these returns Democratizing access to savingsTo provide more efficient and modern alternatives to banking products. However, this approach for the congress undermines the main function of Stablecoins.
French Hill: No equation with bank accounts
According to the charges of favoritism against banks, Hill replied without hesitation: “ Conto Bancario. I know Armstrong’s perspective, but I do not believe that there is an agreement either at home or in the Senate. ”
Hill announced that the next step would be an official discussion about the invoice in the Assembly, so -called Stable actionPlanned for Wednesday. According to the current text, any interest or efficiency provided for stablecoins is not compatible.
Interest and efficiency: a risk of risk
In recent months, several industrial operators, Interest to Stablecoin It is a strong attraction for users. In public statements, this feature is often depicted as a Trump card to revolutionize retail financing.
An extraordinary example came DC Blockchain Summit Last week, members of the Trump family and business partners, World Liberty Financial. The initiative promised 4% or more direct returns in digital dollars, which are spent at any sales point.
“We offer a decentralized banking system where people can earn interest and at the same time pay anywhere. This is the simplest idea: how will the consumer make more spending? Giving them a better product.”
in question Chase HerroWorld Liberty’s founding partner.
However, if the political climate does not change, this vision may conflict with the reality of an arrangement that focuses on payment efficiency rather than interest earnings.
A Junction for the Future of Stablecoin
The Congress’s explicit rejection of changing the rules of return points to an important moment for the Criptovovutute industry. While industrial operators aim to benefit from Stablecoins to provide new “smart savings” tools to consumers, the political line Risk of confusion Among the payment products and investment instruments.
Especially the fear of legislators, a gray areaStablecoins can escape the more strict rules provided for banks and financial vehicles.
In the short term, the war seems to be leaning against the Congress. If the restrictions remain unchanged in the last text of the law, The expectations of the crypto sector may need to be backwardAt least when it comes to returns.
But the discussion is far from being closed. With bets that exceed individual economic functionality, the game in Stablecoins traditional finance And decentralized financeBetween status quo and innovation.
For now, what is certain The areas of interest in Stablecoin are out of the environment American law.
