Blockchain Association says no to expanding stablecoin yield prohibition

Impact of Stablecoin Prohibition

Recently, industry advocacy groups such as the Blockchain Association voiced opposition against the expansion of stablecoin yield prohibition to include the application layer. This move is perceived as anti-competitive, restricting the range of earning yields. Trade unions and industry groups warn that further regulations could hinder technological advancement and competition among firms. The opposing industry groups believe that stablecoins are key to becoming ordinary assets in the market. Their proposal centers around maintaining a competitive market while providing the best options for consumers. If this prohibition expands, it may create significant barriers, particularly for emerging companies, raising concerns about stifling innovation. The industry seeks flexibility to ensure safe operations without stifling growth. While attention is drawn to future developments, it's critical to carefully analyze the potential market impact.