The stablecoin rules proposed by the Office of the Comptroller of the Currency could put pressure on platforms like Circle and Coinbase, indicating that close financial ties might be viewed as an attempt to circumvent the prohibition on issuers providing yields under the . While the proposal leaves room for rebuttal, it does raise questions about third-party reward programs, which are a key assumption in the industry and a major point of contention in the ongoing negotiations over the @E5@.