US encryption banks bypass new legal restrictions: Compliance methods that allow stablecoins to "earn while idle".

[Block Rhythm] A crypto bank that has recently obtained a federal license has been making interesting moves - it wants to distribute money to users while also navigating the newly enacted legal restrictions.

The institution called Anchorage Digital announced on November 26 that it is ready to give rewards to institutional clients holding USDtb and USDe tokens. Sounds like “holding coins to earn interest”? But they specifically emphasized: this is not interest, and the assets do not need to be locked or staked; just keeping them on the platform idly can earn returns.

Why make it so convoluted? Because the GENIUS Act passed in the United States this year has drawn a red line for stablecoin issuers—prohibiting them from directly paying interest to users. Legislators are concerned that this could turn into a “shadow banking system with no oversight,” so they simply blocked the path for interest-bearing stablecoins.

Anchorage's response is somewhat clever: the rewards are not issued by the bank itself, but are operated through an independently functioning affiliate, Anchorage Digital Neo Ltd. This entity is legally separate from the licensed bank, and the funds are provided by the company itself, without utilizing the bank's capital pool.

They claim that this design can both improve the capital efficiency for institutional clients and slip through the regulatory needle's eye. Custody and security are still guaranteed by the bank's system, but the entity distributing the rewards has changed its guise. It can be seen as finding a way to survive in the cracks under the new rules.