#加密货币监管立法 Wow, this article completely changed my understanding of stablecoins. I used to think that stablecoins would drain bank deposits, but the data in front of me shows—there's no large-scale outflow at all.

Thinking about it carefully, it makes sense. We keep our money in banks not because they are super safe or highly efficient, but for convenience—mortgages, salaries, credit cards all in one place, hard to move elsewhere. So even though stablecoins are more convenient, most people are still reluctant to bother.

But the key reversal here is: it is precisely because stablecoins pose a threat that banks are forced to improve. They used to earn fees passively and exploit consumers with zero interest rates, but now they have to compete on efficiency and interest rates. This is actually a good thing—competition is pushing the financial system to upgrade.

Even more interesting is the emergence of the GENIUS Act, which standardizes what was once a wild growth. Fully backed reserves, mandatory redemption rights, and a clear risk framework. As a result, stablecoins have shifted from "flood monsters" to "formal troops," and banks can still use them to optimize clearing systems and reduce cross-border payment costs.

To put it simply, this is not a game of life and death, but a process where traditional finance is being forced to keep up with the times. Just like the music industry eventually embraced streaming, banks will learn how to profit from new technologies instead of relying on "delays." The rising policy approval actually reflects a rebalancing of the entire system.