Former Standard Chartered Executive: "The GENIUS Act, which bans staking, will not stifle cryptocurrency innovation."

Recent Criticism of GENIUS Bill's Staking Prohibition Amendment
"Institutional Investors Will Find Ways to Utilize Stablecoins"

Will Bison, former Standard Chartered executive, pointed out the recent passage of the 'GENIUS Bill' in an interview with cryptocurrency media Cointelegraph on the 12th, emphasizing capital inflow into the cryptocurrency market through stablecoins.

Bison highlighted the amendment to the provision in the GENIUS Bill that prohibits staking income through stablecoins. Previously, the bill's proponents added a clause prohibiting stablecoin issuers from directly paying interest to holders or providing similar returns.

Bison predicted that institutional investors would bring capital into the cryptocurrency market, including real-world asset (RWA) tokenization, to generate profits.

He stated, "Even if stablecoins that can generate their own profits disappear, institutions will need ways to maintain liquidity and generate returns" and "Institutions will not invest in assets that are declining in value and will demand and seek infrastructure that can increase returns through the stablecoins they purchase, in compliance with regulations."

He further emphasized, "Institutional investors will go beyond simply holding stablecoins, investing in low-risk options and using stablecoins as a means to freely move cash and high-quality assets."

Reporter Kwon Seung-won ksw@blockstreet.co.kr