An interesting question is on the table: why can stablecoins provide users with interest and rewards?

The voice of the US banking industry has spoken. Industry insiders reveal that the American Bankers Association has listed "restricting interest, yield, and reward mechanisms for payment-stablecoins" as its top policy goal for 2026. The underlying logic is quite straightforward—they are worried that stablecoins are eating into the traditional banking deposit pool.

Imagine a multiple-choice question for users: deposit dollars in a bank to earn negligible interest, or move into the stablecoin ecosystem to earn higher returns? The answer is obvious. This directly threatens the deposit base and lending capacity of community banks, which happen to be an important source of financing for small and medium-sized enterprises.

US Bank CEO Brian Moynihan's statement is even more direct. He pointed out that up to hundreds of billions of dollars could flow into the stablecoin system—this number is enough to make traditional financial institutions uneasy.

Therefore, the upcoming regulatory roadmap is already clear: either stablecoins give up high-yield attraction, or face stricter policy constraints. This game may ultimately change the entire DeFi yield ecosystem.