The crypto industry has recently seen new developments. A senior executive from a leading compliant platform recently held a key meeting with U.S. Congress members, focusing on stablecoin reward policies—industry insiders are concerned that if regulators impose limits on stablecoin yields, it will severely weaken the competitiveness of crypto platforms in attracting funds from traditional banks.

The core disagreement is clear: crypto platforms believe that U.S. consumers should have the right to earn higher returns through stablecoins. However, banking lobbying groups hold a different view; they are pushing for legislation to restrict such rewards, for a not-so-mysterious reason—if crypto platforms can offer depositors higher yields, traditional banks will be forced to raise their own deposit interest rates, threatening their profit margins.

From the legislative perspective, the situation has become more complex. The Senate committee was previously preparing a draft of the "Digital Asset Market Structure Act," which included a compromise clause: banning deposit yield payments but allowing other incentives like trading rewards. However, senators now seem to be drafting a more stringent amendment—proposing a comprehensive ban on all forms of stablecoin rewards. Whether this amendment will ultimately pass remains uncertain in the industry.

Essentially, this is a battle between traditional finance and the crypto industry over the system: who can better attract and retain user funds. The upcoming vote results could directly impact the entire business model of the crypto industry.