During the推进 process of the stablecoin-related legislation, the profit distribution mechanism has become the core point of contention. Galaxy Digital's head recently stated that this issue could directly impact the passage or rejection of the entire bill.

His main point of view is quite interesting: the banking system is particularly opposed to crypto platforms providing rewards to users. But the problem is that the officially enacted GENIUS Act actually permits such operations. In other words, the existing legal framework has, in fact, given crypto platforms room to operate.

Even more interesting is the counter-logic. If the new stablecoin bill is ultimately rejected, it would maintain the status quo—which is precisely the scenario some forces fear most. This indicates that in financial regulation, the interests between traditional finance and the crypto sector are far more complex than they appear on the surface. Every step in the推进 of the bill is a tug-of-war among different interest groups.