Coinbase首席执行官Brian Armstrong呼吁立法更新，以允许Stablecoin持有人赢得链上利息

Coinbase首席执行官Brian Armstrong强烈呼吁进行立法更新，使Stablecoin持有人获得“链上利息”。在3月31日的X上，阿姆斯特朗说，现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首席执行官Brian Armstrong正在敦促国会更新立法，以允许Stablecoin持有人赢得“链利息”，将这种变化与更广泛的金融包容性和美国经济竞争力联系起来。

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，阿姆斯特朗强调说，现有法律不公平地限制了Stablecoin提供商将收入传递给用户。他指出，这些数字货币通常以低风险的美国国债以美元的价格支持1：1。

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

阿姆斯特朗说：“国债产生的回报应与持有稳定的人共享。”

A Free Market Approach to Stablecoin Interest

一种自由的市场方法，以实现Stablecoin兴趣

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首席执行官一直支持有关财务规则的自由市场理念。他认为，银行和加密公司应根据相同的法律运营。他批评他认为政府对传统银行机构的偏爱，主张此类政策限制了创新和消费者的选择。

"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.

阿姆斯特朗解释说：“《稳定法》明确禁止稳定发行人提供收益率，而《天才法》被修改为将这些工具排除在其'付款稳定''的定义之外。”

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.

这一带有兴趣的功能是Coinbase首席执行官心目中Stablecoin政策的基本组成部分。他指出，将稳定的人与美国国债联系起来将产生利息，可以将其分发给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.

阿姆斯特朗说：“这对美国人民来说将是一个切实的好处，尤其是在当今的经济环境中，储蓄账户的利率处于记录低点。”

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.

根据Coinbase首席执行官的说法，美国最大银行的利率支票和储蓄帐户的平均利率目前为0.41％。相比之下，Onchain利率可能会有所不同，但可能会明显更高。

"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.

阿姆斯特朗断言：“与其他全球金融体系相比，美国金融体系处于劣势的广泛竞争格局的一部分。”

The Economic and Competitive Benefits of Onchain Interest

OnChain权益的经济和竞争优势

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.

根据阿姆斯特朗的说法，将OnChain利益纳入Stablecoin监管也将带来更广泛的经济优势。他认为，允许Stablecoin兴趣通过增加全球美元支持的Stablecoins的使用来增强美国经济。这可能会增加对美国国债的需求，从而促进数字金融体系中的美元优势。

"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."

阿姆斯特朗说：“如果国会在本次会议上允许对稳定的稳定股的利益，那么数十亿美元的财务流量和创新将被解锁。” “但是没有它，美国冒着落后的风险，我们可能会看到这项技术在其他司法管辖区蓬勃发展。”

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.

建议立法者对任何正在监管稳定的法规的未决立法（例如稳定法案或《天才法》）中的利益。这种变化将是针对稳定的新兴监管景观的基本补充。

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.

随着关于Stablecoin监管的讨论继续进行，阿姆斯特朗的倡导强调了加密空间内的创新与监管之间的紧张关系。他的建议，如果由国会实施，可以为Stablecoin持有者打开大门，以便在其数字美元工具上赚取有意义的收益。但是，如果国会执行限制性政策，它可能会促使加密货币行业寻求更容易受到创新的管辖权。