#数字资产市场动态 2026 Stablecoin and RWA Controversy Intensifies

The dialogue between Wall Street and new crypto elites is heating up. The focus? Digital tokens claiming to offer investors annualized returns.

The issue isn't so simple. A leading crypto platform offering about 3.5% annualized yield on stablecoins looks attractive. But the traditional banking logic is: this is just a deposit product, but without the regulatory burdens we face. So, the banking industry is pressuring Congress—saying this could threaten small and medium-sized banks. Comparing it to the current interest rates on US checking accounts, which are less than 0.1%, you understand why banks are anxious.

This tug-of-war directly impacts policy progress. The Senate Banking Committee's planned vote on the cryptocurrency market structure bill scheduled for Thursday has been postponed.

Interestingly, major banks like JPMorgan and Citibank oppose stablecoin yield mechanisms, yet secretly prepare their own crypto products. US banks are even considering issuing their own stablecoins. This is what you call a fight on both sides.

The current situation is: a well-known platform has withdrawn support for the bill, which could cast a shadow over the entire legislative process. Other crypto companies are still insisting, but their voices are noticeably weaker. The deeper issue behind this is clear—the rapidly emerging crypto industry in Washington over the past few years is using increasingly powerful lobbying efforts to counter traditional financial giants that have been connected to Congress for decades. This power game is far from over.