Analysis: GENIUS Act bans yield-generating stablecoins, which will benefit Ethereum DeFi

Odaily News After the US GENIUS Act officially banned yield-based stablecoins, analysts believe that it will drive funds into the Ethereum DeFi ecosystem. Such stablecoins can generate interest for holders through staking or lending. Analysts pointed out that the ban on stablecoin yields will force institutions and users to turn to DeFi protocols on Ethereum to obtain passive income, which is beneficial to ETH and decentralized finance. (Cointelegraph)