Analysis: Stablecoins should be banned from paying interest, otherwise it will harm efficiency and stability
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最新报道：According to Bijie.com, Hans Gersbach and other scholars from the Institute of Economics (KOF) at the Swiss Federal Institute of Technology in Zurich (ETH) delivered a speech titled "Contagious Stablecoins?" at the World Economists Conference (ESWC), which opened on the 18th. They stated: "In an environment where multiple issuers compete, if one issuer begins paying interest, others will inevitably follow suit. This will lead to overall inefficiency and instability in the (stablecoin) system." They added: "This stablecoin's interest payment mechanism is contagious and could ultimately lead to a series of problems. Therefore, prohibiting interest payments through regulation is a core measure to maintain an efficient stablecoin market." The scholars also pointed out that in the so-called "stablecoin secondary market," if investors do not redeem directly from the issuer but instead circulate through market transactions, a failed adjustment could also trigger panic, and therefore requires regulation.
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