A potential US ban on stablecoin yield products could prompt other jurisdictions to introduce the feature instead, according to Takatoshi Shibayama of crypto hardware wallet firm Ledger.
Shibayama said a prohibition in the United States would likely open discussions between stablecoin issuers, financial institutions and regulators in other markets about offering yield or reward programmes.
“If that were to change in the US, then I think it definitely opens up a lot of conversation between the stablecoin issuers and the regulators to allow yields or rewards to be passed through to their user base,”
Shibayama said.
The debate comes as the US Senate works on cryptocurrency legislation that could restrict third-party platforms from providing yield products tied to stablecoins.
The proposal has faced resistance from crypto lobby groups, who argue that banning yield services could limit innovation and reduce the competitiveness of US digital asset markets.
Shibayama also said institutional interest across Asia has increasingly focused on blockchain infrastructure rather than direct exposure to cryptocurrencies such as Bitcoin and Ethereum.
He added that many financial institutions in the region are exploring tokenisation and stablecoin issuance while leaving traditional crypto trading products largely outside their immediate strategies.
At the time of reporting, Bitcoin price was $74,066.51.