#加密货币监管框架 I just finished reading a study from Cornell University about the relationship between stablecoins and banks, which reached a quite interesting conclusion — stablecoins are not here to "kill banks," but rather to push them to improve.

This reminds me that many people were worried about deposit outflows before, thinking that with stablecoins, why would anyone keep money in banks? But the data shows that large-scale deposit outflows simply haven't happened. Why? Because of the "stickiness" — mortgage payments, direct salary deposits, various account linkages. The convenience of this bundled service isn't something stablecoins can easily disrupt.

The real change is here: banks have felt threatened and are proactively raising interest rates and optimizing efficiency. It's like a forced competitive catalyst. Banks used to profit from "delays," but now they have to profit from "speed."

Most importantly, the regulatory framework is becoming clearer, especially with the GENIUS Act explicitly defining reserve requirements and risk management standards. This means stablecoins are shifting from the "gray area" into formal regulation, and the underlying infrastructure of the financial system is upgrading from defensive thinking to genuine efficiency dividends — faster cross-border settlements and clearing. These long-standing issues finally have solutions.

From another perspective, this isn't a threat but a necessary update to financial infrastructure. If banks can seize this opportunity to participate, it could become a new growth point.