Tether has denied a report that it supports a law to cap stablecoin yields.
The Block reported on Jan. 29 that Tether CEO Paolo Ardoino (파올로 아르도이노) said, “Tether has no position on this issue because it does not share yield.” He was responding to a report that Tether had contacted U.S. Senate Banking Committee members to support the yield cap.
In the crypto industry debate over regulation, whether stablecoin issuers can pay interest to users has emerged as a key issue. Banks are maintaining opposition, saying they fear deposit outflows if interest payments are allowed.
Earlier, Coinbase withdrew its support in protest after a Senate Banking Committee crypto bill included a cap on stablecoin yields. The GENIUS Act bans stablecoin issuers from paying interest directly, but allows platforms such as Coinbase to provide rewards. Banks strongly oppose this and are warning of possible deposit outflows.
Chi-gyu Hwang
delight@d-today.co.kr