Today, the world witnessed two radically opposite strategies for the development of digital assets. While China is making its CBDC (digital yuan) attractive to the masses, the USA is building a strict regulatory barrier.

🇨🇳 Chinese scenario: e-CNY as a deposit

From today (01.01.2026), the People's Bank of China officially allowed the accrual of interest on e-CNY balances.

This changes the rules of the game. Now the digital yuan is not just digital cash, but a direct competitor to bank deposits. China is creating the most powerful ecosystem for retaining capital within its state digital currency.

🇺🇸 The American impasse: The GENIUS Act

In the U.S., intense debates continue over the stablecoin regulation law (signed in July 2025), which prohibits issuers (such as Circle or Tether) from offering yield to asset holders.

Coinbase's position: Farhad Shirzad warns that this ban makes dollar stablecoins "non-competitive." Investors may begin migrating to foreign assets that generate passive income.

📉 What does this mean for us?

1️⃣ Risk of capital outflow from dollar assets: If American stablecoins remain "barren" (0% yield), while foreign digital currencies (such as e-CNY or offshore stablecoins) offer interest rates — liquidity will start washing out of the U.S. market.

2️⃣ Traditional banks vs Crypto: The lobbying battle in Washington shows that bankers fear tokenization. They are trying to legally restrict crypto exchanges so they cannot offer better terms to customers.

3️⃣ Tether's dominance: In this situation, Tether remains the "grey cardinal." Despite regulatory pressure, the company continues aggressively expanding its reserves (the latest purchase of 8,888 $BTC further confirms its strategy of shifting from paper liabilities to hard assets).

💡 We are entering an era where competition between nations will no longer be over territory, but over the yield of digital code. If the U.S. does not allow stablecoins to evolve into full-fledged financial instruments, the dollar may lose its role as the primary settlement asset in the Web3 era.

What do you choose: reliability under U.S. oversight or yield in new digital ecosystems? Let's discuss in the comments! 👇

#Cryptocurrencies #Analytics #CBDC #eCNY #GENIUSAct #Stablecoins #BinanceSquare #Tether #Coinbase #BTC