Analysis: The GENIUS bill banning income based stablecoins will benefit Ethereum DeFi

Odaily Planet Daily News: After the US GENIUS bill officially banned income based stablecoins, analysts believe it will drive funds into the Ethereum DeFi ecosystem. This type of stablecoin could have brought interest to its holders through pledging or borrowing. Analysts point out that the ban on stablecoin profits will force institutions and users to turn to DeFi protocols on Ethereum for passive gains, which is beneficial for ETH and decentralized finance. （Cointelegraph）