Coinbase首席執行官Brian Armstrong呼籲立法更新，以允許Stablecoin持有人贏得鏈上利息

Coinbase首席執行官Brian Armstrong強烈呼籲進行立法更新，使Stablecoin持有人獲得“鏈上利息”。在3月31日的X上，阿姆斯特朗說，現有法律不公平地限制了Stablecoin

Coinbase CEO Brian Armstrong is urging Congress to update legislation to allow stablecoin holders to earn "on-chain interest," tying this change to broader financial inclusion and U.S. economic competitiveness.

Coinbase首席執行官Brian Armstrong正在敦促國會更新立法，以允許Stablecoin持有人贏得“鏈利息”，將這種變化與更廣泛的金融包容性和美國經濟競爭力聯繫起來。

In a March 31 post on X, formerly Twitter, Armstrong highlighted that existing laws unfairly restrict stablecoin providers from passing earnings to users. He noted that these digital currencies are typically backed 1:1 by the U.S. dollar in low-risk American Treasuries.

在3月31日的X（以前是Twitter）上的一篇文章中，阿姆斯特朗強調說，現有法律不公平地限制了Stablecoin提供商將收入傳遞給用戶。他指出，這些數字貨幣通常以低風險的美國國債以美元的價格支持1：1。

"The returns that Treasuries generate should be shared with the people holding the stablecoins," Armstrong stated.

阿姆斯特朗說：“國債產生的回報應與持有穩定的人共享。”

A Free Market Approach to Stablecoin Interest

一種自由的市場方法，以實現Stablecoin興趣

Coinbase CEO has consistently supported a free market philosophy regarding financial rules. He believes banks and crypto firms should operate under the same laws. He has criticized what he sees as government favoritism toward traditional banking institutions, asserting such policies limit innovation and consumer choice.

Coinbase首席執行官一直支持有關財務規則的自由市場理念。他認為，銀行和加密公司應根據相同的法律運營。他批評他認為政府對傳統銀行機構的偏愛，主張此類政策限制了創新和消費者的選擇。

"The STABLE Act explicitly prohibits stablecoin issuers from offering yield, while the GENIUS Act was amended to exclude such instruments from its definition of a 'payment stablecoin,'" explained Armstrong.

阿姆斯特朗解釋說：“《穩定法》明確禁止穩定發行人提供收益率，而《天才法》被修改為將這些工具排除在其'付款穩定''的定義之外。”

This interest-bearing feature is a fundamental component of stablecoin policy in the minds of Coinbase CEO. He pointed out that tying stablecoins to U.S. Treasuries would generate interest that could be distributed to stablecoin holders.

這一帶有興趣的功能是Coinbase首席執行官心目中Stablecoin政策的基本組成部分。他指出，將穩定的人與美國國債聯繫起來將產生利息，可以將其分發給Stablecoin持有人。

"This would be a tangible benefit for the American people, especially in today’s economic climate, where interest rates on savings accounts are at record lows," said Armstrong.

阿姆斯特朗說：“這對美國人民來說將是一個切實的好處，尤其是在當今的經濟環境中，儲蓄賬戶的利率處於記錄低點。”

According to Coinbase CEO, the average interest rate on interest-bearing checking and savings accounts at the largest U.S. banks is currently 0.41%. In contrast, onchain interest rates could vary but are likely to be significantly higher.

根據Coinbase首席執行官的說法，美國最大銀行的利率支票和儲蓄帳戶的平均利率目前為0.41％。相比之下，Onchain利率可能會有所不同，但可能會明顯更高。

"The lower interest rates and stifling regulations are part of the broader competitive landscape where the U.S. financial system is at a disadvantage compared to other global financial systems," asserted Armstrong.

阿姆斯特朗斷言：“與其他全球金融體系相比，美國金融體係處於劣勢的廣泛競爭格局的一部分。”

The Economic and Competitive Benefits of Onchain Interest

OnChain權益的經濟和競爭優勢

Integrating onchain interest into stablecoin regulation would also bring broader economic advantages, according to Armstrong. He argued that allowing stablecoin interest strengthens the American economy by increasing the use of dollar-backed stablecoins worldwide. This could increase demand for U.S. Treasuries, furthering dollar dominance in the digital financial system.

根據阿姆斯特朗的說法，將OnChain利益納入Stablecoin監管也將帶來更廣泛的經濟優勢。他認為，允許Stablecoin興趣通過增加全球美元支持的Stablecoins的使用來增強美國經濟。這可能會增加對美國國債的需求，從而促進數字金融體系中的美元優勢。

"Billions in financial flows and innovation would be unlocked if Congress acts to permit onchain interest in stablecoins in this session," said Armstrong. "But without it, the U.S. risks falling behind and we may see this technology flourish in other jurisdictions."

阿姆斯特朗說：“如果國會在本次會議上允許對穩定的穩定股的利益，那麼數十億美元的財務流量和創新將被解鎖。” “但是沒有它，美國冒著落後的風險，我們可能會看到這項技術在其他司法管轄區蓬勃發展。”

suggest that lawmakers include onchain interest in any pending legislation regulating stablecoins, such as the STABLE Act or the GENIUS Act. This change would be a fundamental addition to the emerging regulatory landscape for stablecoins.

建議立法者對任何正在監管穩定的法規的未決立法（例如穩定法案或《天才法》）中的利益。這種變化將是針對穩定的新興監管景觀的基本補充。

As discussions about stablecoin regulation continue, Armstrong's advocacy underscores the tensions between innovation and regulation within the crypto space. His suggestions, if implemented by Congress, could open the door for stablecoin holders to earn meaningful yields on their digital dollar instruments. However, if Congress maintains restrictive policies, it could push the crypto industry to seek out jurisdictions more receptive to innovation.

隨著關於Stablecoin監管的討論繼續進行，阿姆斯特朗的倡導強調了加密空間內的創新與監管之間的緊張關係。他的建議，如果由國會實施，可以為Stablecoin持有者打開大門，以便在其數字美元工具上賺取有意義的收益。但是，如果國會執行限制性政策，它可能會促使加密貨幣行業尋求更容易受到創新的管轄權。