The fierce opposition from a leading platform to the CLARITY proposal ultimately boils down to a matter of interests. Digging deeper, their main concern is focused on stablecoin yields. Last year's key legislation introduced an interesting provision—prohibiting stablecoin issuers from paying interest to holders, but allowing "third parties and affiliates" to provide yields. This detail has become a loophole for some platforms to operate. In other words, they use related-party mechanisms to indirectly earn from the stablecoin ecosystem, circumventing the restrictions imposed on issuers by the legislation. The gap left by the policy is precisely what they aim to protect.
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BlindBoxVictim
· 10h ago
Hmm, this is just the usual capital trick. The surface appearance looks quite convincing, but in reality, it's just a different disguise to continue exploiting users.
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FancyResearchLab
· 10h ago
Haha, this gap was dug beautifully. Even Luban No.7 has to applaud. As soon as the regulators open their mouths, they leave a "related party" backdoor for them. Now they're well-versed.
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AirdropHunter420
· 10h ago
It's all about money; essentially, it's about protecting that gray area.
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DataBartender
· 11h ago
Tsk, it's the same old trick again, hiding behind the guise of compliance while actually finding loopholes.
The fierce opposition from a leading platform to the CLARITY proposal ultimately boils down to a matter of interests. Digging deeper, their main concern is focused on stablecoin yields. Last year's key legislation introduced an interesting provision—prohibiting stablecoin issuers from paying interest to holders, but allowing "third parties and affiliates" to provide yields. This detail has become a loophole for some platforms to operate. In other words, they use related-party mechanisms to indirectly earn from the stablecoin ecosystem, circumventing the restrictions imposed on issuers by the legislation. The gap left by the policy is precisely what they aim to protect.