US regulation accelerates, are traditional banks preparing to embrace stablecoins?

【Chain Wen】Recently, I heard an interesting judgment. The crypto advisor at the White House believes that as soon as the Market Structure Act is implemented, the banking industry’s attitude towards crypto assets will do a 180-degree turn, with stablecoins leading the way. He said very straightforwardly— the boundary between banks and crypto will gradually blur, eventually merging into a unified digital asset industry.

Why are banks still on the sidelines now? Basically, it’s because the rules are not clear. Many large banks are waiting, waiting for what? Waiting for the legislative framework to become clear before taking action. Once the bill passes, institutions will have clear game rules, and the motivation to participate will come.

Stablecoins are especially interesting here. Banks might see issuing stablecoins as a new revenue source, while also using them to compete against fintech companies. Ironically, the banking industry is still lobbying against companies offering stablecoin profits, but in the long run, they will also join this game. When the law takes effect, stablecoin revenue could become a routine business for banks.