The current legislative proposals, in the House of Representatives and in the Senate, are explicitly prohibited Stablecoin from generation interest For their holders.
While in the United States, there is an acceleration towards a final organization for Stablecoins, and tensions between Criptovalute Industry and Congress becomes more clear.
In the midst of the discussion, a basic question: should Ancoraati al dollaro digital assets Be able to generate an interest for those who keep it, as is the case with bank savings accounts?
According to the main legislators, the answer is no. Pressure from Brian ArmstrongCoinbase CEO, one of the most important exchanges in the world, has not yet been in vain.
Armstrong She publicly talked about a reconsideration of the position of Congress, but he received immediate and fixed rejection from the Republican leadership in the House of Representatives.
The reasons behind no from Congress
According to the deputy French hillChairman of the Financial Services Committee in the House of Representatives, the nature of Stablecoins must remain clearly specific: they are not investment tools, however Payment.
“There was a general consensus on both sides of Congress that Stablecoins should increase the efficiency of payments. It is not a complex problem: it should not be dealt with as investments.”and
Hill told the press.
This vision, which prohibits the return on Stablecoin, protects the non -specialized nature of the product, is the basis of the intersecting support that the legislation has received on this topic so far. The amendment of this part of the draft law can undermine the fragile political balance that has been achieved.
Brian Armstrong’s attractiveness from Stablecoin
During Monday, CEO of the company Coinbase He submitted a direct appeal on social media, and criticized the restrictions mentioned in the draft law. Armstrong has argued that Stablecoins from providing attention would be an equivalent to “I intentionally prefer traditional banking industry At the expense of the encryption sector. “
Currently, Coinbase allows its users to earn a return from 4.1 % annually on deposits in USDCOne of the most used stablecoins, bound to the dollar. This average, much higher provided by model savings accounts, makes Stablecoins a potential tool for millions of Americans.
According to Armstrong and other industry leaders, allowing these returns means Add the democratic character to reach savingsProviding more efficient and modern alternatives to banking products. But for Congress, this approach undermines the basic function of Stablecoins.
French hill: There is no equation with bank accounts
To the accusations of favoritism towards banks, Hill responded without hesitation: “I don’t see stablecoins as I see a Contino Pancario. I know Armstrong’s view, but I don’t think there is a consensus on this either in the House of Representatives or in the Senate. “
Hill announced that the next step is the official discussion on the draft law at home, the so -called Stable workIt is scheduled for Wednesday. According to the current text, any form of interest or return provided to Stablecoins is not compatible.
Attention and return: the promise at risk
In recent months, many industry operators have prepared for a future in the show Interest on Stablecoin It will be a strong attraction for users. In general data, this feature is often photographed as a Trump card to revolutionize retail financing.
A wonderful example came from DC Blockchain top Last week, where members of the Trump family and business partners presented the Stablecoin project linked to The world is financial freedom. The initiative promised a direct return of 4 % or more on digital dollars, which can be spent at any point of sale.
“We provide people with a central, inferior banking system, where they can earn interest and at the same time they pay anywhere. This is the simplest idea: How to make the consumer spend more? By giving them a better product.”
He said Chis HiroParticipating founder of global freedom.
But if the political climate does not change, this vision may collide with the reality of the regulations that focus on the efficiency of payment rather than interest profits.
A crossroads for the future Stablecoin
The clear rejection of Congress to amend the rules related to returns is a crucial moment to the Criptovalute industry. While industry operators aim to take advantage of Stablecoins to present new tools to “provide smart” to consumers, the political line insists on The risk of confusion Between payment products and investment tools.
Fear of legislators, in particular, is the creation of a Gray regulatory areaStablecoins can escape from the tougher bases provided to banks and financial tools.
In the short term, the battle appears to be fully inclined alongside Congress. If the restrictions remain unchanged in the final text of the law, The encryption sector may need expectationsAt least with regard to returns.
But the discussion is far from closing. With risks that go beyond individual economic functions, the game reflects the broadest clash between Traditional financing and The decentralized financingBetween the current situation and innovation.
At the present time, what is certain is that Interests on stablecoin remain outside the ocean American law.
