Damon's words sound familiar; back then, Yu'e Bao was also suppressed by banks in this way. If stablecoins really start paying interest, how can traditional savings still compete? The bill's passage probability is plummeting; it might be difficult to pass before July 4th.

JPMorgan CEO Dimon warns that if the CLARITY Act allows stablecoins to pay users interest similar to deposits, the related model could blow up, and banks also do not accept such arrangements. The bill aims to clarify the U.S. cryptocurrency regulatory framework, with the Trump administration planning to push it through before July 4th, but the probability of passage has dropped from 70% to just over 50%.