Ledger Executive: If the US Bans Stablecoin Yields, Other Countries May Fill the Gap

ZkProver · 2026-03-16T04:16:06+00:00

Ledger's Asia-Pacific head mentioned that if the US implements a stablecoin yield ban, global discussions will follow. Although some countries offer regulatory exemptions, most stablecoins still do not provide yields to users. Progress on US crypto regulatory legislation has been slow, with opposition from banking groups stalling passage. Asian financial institutions have shifted their focus toward financial product tokenization, reducing emphasis on crypto-native products.

ZkProver

2026-03-16 04:16:06

Abstract generation in progress

ChainCatcher reports that Ledger Asia-Pacific Head Takatoshi Shibayama stated that if the U.S. implements broader restrictions on stablecoin yields, discussions will be initiated among institutions, stablecoin issuers, and regulators in other countries. He pointed out that countries like Australia have already provided regulatory exemptions for stablecoin issuers, but currently most stablecoins outside the U.S. do not offer yields or rewards to users to protect banking interests.

If U.S. policies change, discussions between stablecoin issuers and regulators regarding the allowance of yield transfer to users will increase significantly. Currently, the U.S. Senate is advancing a crypto regulation bill, but a provision supported by banking lobbyists that bans third-party platforms from offering stablecoin yields has stalled legislation, which the crypto lobbying community opposes.

Shibayama also mentioned that Asian financial institutions’ approach to the crypto industry has shifted, with a decoupling of crypto and blockchain technology since last year. Institutions are more focused on tokenization of financial products and stablecoin issuance rather than DeFi and staking native crypto products, with assets like Bitcoin and Ethereum excluded from discussions. However, asset management firms are still considering launching crypto products to diversify offerings for clients.

BTC4,18%

ETH9,93%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.