2026-01-08 03:20:54

Recently, industry lawyers have spoken out on social media, questioning the GENIUS Act passed by the U.S. Congress. The act bans innovative products like yield-bearing stablecoins, but behind this is the involvement of financial institutions—essentially, the bill is a concession to banking groups, ensuring their monopoly in the payment and settlement sector. From the perspective of financial innovation, this policy lacks sufficient justification and instead restricts the imagination space of the entire crypto ecosystem. Even more ironically, banks are continuing to push for further market intervention measures. Some voices believe that such regulatory approaches may do more harm than good and warrant community attention and discussion.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

19 Likes

Reward
19
10
Repost
Share

Comment

0/400

SignatureAnxiety

· 3h ago

That's incredible. The banks are once again playing their monopoly game. The GENIUS Act is just to choke us.

View OriginalReply0

BearMarketMonk

· 01-09 16:56

Are you coming to cut our leeks again? Is the banking group really openly bullying us?

View OriginalReply0

TokenomicsPolice

· 01-09 15:07

Once again, it's the banking conglomerates pulling strings behind the scenes. It's getting more and more blatant. --- The GENIUS Act is a joke. Banning yield tokens? Why not just say "protect banking monopolies" directly? --- These people shout about innovation on one hand, while using laws to block innovation on the other... It's a perfect irony. --- Yield tokens are banned, and the banking oligopoly remains impregnable. Is Web3 being completely consumed and wiped out this way? --- The lawyer's statement this time is spot on; that's exactly how it is. --- I just want to know why we always have to kneel and lick the banking overlords. Cryptocurrency was originally about anti-monopoly. --- The policy does more harm than good, but who cares? The voices of the power groups will always outweigh the community. --- Look, here they come again... Every time, under the guise of "protecting investors," but in reality, it's just protecting vested interests. --- It's quite something that such an innovative thing as yield tokens is just being suppressed like this. --- Banks push from behind, and the bill passes... This democratic system is really terrible.

View OriginalReply0

BlockchainBard

· 01-09 06:32

Same old story, the bank just says whatever it wants --- The GENIUS Act is really just blatant protection of vested interests --- Stablecoins are banned, and they’re just sitting here, with financial innovation dying in the hands of policy --- Laughable, saying no to innovation on one side and pretending to be open... irony --- The banking group’s tricks are played so smoothly, regulatory agencies just act as messengers --- So our future has to be decided by these people? That’s too absurd --- Isn’t this just traditional finance fearing disruption? And they have to bring up some bill --- What’s going on, I just want to see if any lawyer can really push back --- Innovation is cut, monopolies are protected, this policy logic is truly brilliant --- The ecosystem is restricted, and in the end, we users are the ones who suffer

View OriginalReply0

RegenRestorer

· 01-08 03:51

It's the bank groups causing trouble again. The GENIUS Act is blatantly protecting their monopoly.

View OriginalReply0

AllInAlice

· 01-08 03:50

It's the same old bank folks causing trouble behind the scenes, no wonder the GENIUS bill is so outrageous. --- Stablecoins are being cut? Is that all? Banks monopolizing and wanting to tighten their grip. --- It's really absurd. Innovation is being suppressed, all because of interest groups causing trouble. --- Regulation is just supporting the old order and suppressing new things, damn it. --- So, the crypto community must always stir things up on its own; relying on the government is less reliable than relying on ourselves. --- Are banks scared? Good, that means we're on the right track. --- The name GENIUS is really ironic; it's not genius at all, haha. --- I just want to ask, does anyone really believe this bill is for the good of ordinary people? --- Once again, we've been harvested. Crypto folks need to wake up. --- Banks look so bad, and they still have the nerve to set rules.

View OriginalReply0

PumpDetector

· 01-08 03:44

ngl reading between the lines here... classic institutional gatekeeping dressed up as "regulation" lol. they're literally just protecting their turf while pretending it's about consumer protection, spare me

Reply0

FundingMartyr

· 01-08 03:36

It's the same old trick again, bank oligarchs sticking their hands into Congress. Stablecoins are being cut, it's hilarious, innovation is being strangled at the cradle. Basically, it's just interest groups protecting their own, and the ceiling for the crypto ecosystem has been lowered again. The behind-the-scenes manipulation of this bill is too obvious; it's just a monopoly under the guise of regulation. Banks really know how to play; banning our products and still being able to intervene in the market? The double standard ceiling has been lifted. Genius Bill? More like a JOKE bill, haha. How can anyone still believe this nonsense? Clearly giving benefits to banks openly. Financial innovation in the US? Don't make me laugh, if big financial groups don't agree, there's no chance. This is exactly why Web3 will always have to compete with traditional finance; systemic issues can't be fundamentally solved.

View OriginalReply0

ShamedApeSeller

· 01-08 03:33

Once again, banking groups are behind the scenes causing trouble. So annoying. --- GENIUS Act bans stablecoin yields? Basically, they're just afraid of losing their market share. --- Financial innovation is being hijacked by politics. Web3 needs to wake up. --- This is ridiculous. Protecting the banking monopoly at the expense of stifling innovation? --- It's ironic—saying they want to develop blockchain while choking it off. --- Community discussion must be promoted; this can't just be let go. --- Banking's little tricks are once again exposed—old tricks. --- Policy logic is full of loopholes; the lawyer's doubts are very valid. --- This kind of regulation is more harmful than helpful. There's nothing more to say. --- The imagination space for the crypto ecosystem has been brutally cut down.

View OriginalReply0

New_Ser_Ngmi

· 01-08 03:27

Once again, it's those guys at the bank causing trouble, really unbelievable. --- The GENIUS Act is just naked protection of vested interests, there's nothing more to say. --- It's absurd that yield-bearing stablecoins are banned. Is it so obvious that innovation is being stifled? --- Banks monopolize payment settlements, our path in crypto is blocked, this is really frustrating. --- This regulatory logic is a joke; everyone can see that the disadvantages outweigh the advantages. --- So Wall Street will always be the winner, small investors are still dreaming. --- Banning an innovative product can maintain a monopoly? This bill is really poorly written. --- Here they come again, the old tricks of financial institutions. Bitcoin should have rebelled long ago. --- Regulation? It's just paving the red carpet for big banks. How can the ecosystem develop? --- The ban on yield-stablecoins makes me feel like our options are getting fewer and fewer.

View OriginalReply0