Analysis: If the CLARITY Act restricts stablecoin yields, it may lead to capital outflows from the United States.

2026-01-25 11:56:06

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Deep Tide TechFlow News, January 25 — According to Cointelegraph, industry insiders warn that if the U.S. Crypto Market Structure Act (CLARITY Act) imposes restrictions on stablecoin yields, it could push funds out of the regulated U.S. market and into offshore, low-transparency financial structures and “synthetic dollars” products.

Mega Matrix Market Director Colin Butler stated that prohibiting compliant stablecoins from offering yields to holders does not protect the U.S. financial system; instead, it marginalizes regulated entities and accelerates capital migration beyond regulatory boundaries. Currently, digital renminbi has interest-earning capabilities, and Singapore, Switzerland, and the UAE are advancing interest-bearing digital asset frameworks. If the U.S. bans compliant dollar stablecoin yields, it could weaken global competitiveness.

It is reported that under the already effective GENIUS Act framework, payment stablecoins like USDC must be fully backed by cash or short-term U.S. Treasuries and are not allowed to pay interest directly, being regarded as “digital cash.”

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