Trump Signs GENIUS Act Banning Yield-Bearing Stablecoins

According to BlockBeats, U.S. President Donald Trump signed the GENIUS Act on Friday, prohibiting the issuance of yield-bearing stablecoins. This legislation effectively eliminates opportunities for both institutions and retail investors to earn interest through these financial instruments, which typically generate returns via staking or lending mechanisms. Cryptocurrency analyst Nic Puckrin remarked that the removal of stablecoin yields is positive news for Ethereum-based decentralized finance (DeFi) as a primary alternative for generating passive income. Christopher Perkins, President of CoinFund, commented that the U.S. dollar is a depreciating asset without yield. He noted that DeFi offers a platform to generate returns and preserve value, suggesting that the decline of stablecoins could lead to a rise in DeFi's popularity.