【Coin World】You may not have noticed, but stablecoins’ on-chain transaction volume has already far surpassed Bitcoin and Ethereum combined—these two don’t even come close to stablecoins in popularity. This has become the lifeblood of DeFi for borrowing, trading, and transfers. Now the US is advancing relevant legislative frameworks, focusing on issuers’ reserve funds, audit systems, and licensing requirements, with regulatory thinking gradually taking shape. Once this framework is implemented, the stablecoin market will split into two camps: one side with compliant, legitimate players, and the other with non-compliant fringe players. This means DeFi protocols will be forced to prioritize compliant stablecoin assets and adjust according to institutional requirements. Of course, there’s a cost—yields will decline while risk will correspondingly decrease. But from another perspective, this solidifies Ethereum’s central position as a settlement layer, and certain compliant trading platforms will also benefit from it. After all, they can directly integrate regulated stablecoin services, which is no small advantage.
ステーブルコインの取引量は既にBTC+ETHを超え、規制枠組みの整備によりDeFiの構図が一新される可能性があります
【Coin World】You may not have noticed, but stablecoins’ on-chain transaction volume has already far surpassed Bitcoin and Ethereum combined—these two don’t even come close to stablecoins in popularity. This has become the lifeblood of DeFi for borrowing, trading, and transfers. Now the US is advancing relevant legislative frameworks, focusing on issuers’ reserve funds, audit systems, and licensing requirements, with regulatory thinking gradually taking shape. Once this framework is implemented, the stablecoin market will split into two camps: one side with compliant, legitimate players, and the other with non-compliant fringe players. This means DeFi protocols will be forced to prioritize compliant stablecoin assets and adjust according to institutional requirements. Of course, there’s a cost—yields will decline while risk will correspondingly decrease. But from another perspective, this solidifies Ethereum’s central position as a settlement layer, and certain compliant trading platforms will also benefit from it. After all, they can directly integrate regulated stablecoin services, which is no small advantage.