Svmuu News: Takatoshi Shibayama, Head of Ledger’s Asia-Pacific region, stated that if the U.S. implements a broader ban on stablecoin yields, discussions will ensue among institutions, stablecoin issuers, and regulators in other countries.He noted that countries such as Australia have already provided regulatory exemptions for stablecoin issuers, but currently, most stablecoins do not offer yields or rewards to users—even outside the U.S.—to protect the interests of banks. If U.S. policy changes, discussions between stablecoin issuers and regulators in various countries regarding allowing yields to be passed on to users will increase significantly. The U.S. Senate is currently advancing a crypto regulatory bill, but legislation has stalled due to a provision—backed by banking lobby groups—that would prohibit third-party platforms from offering stablecoin yields, a move opposed by crypto industry lobbyists. Shibayama also noted that Asian financial institutions’ approach to the crypto industry has shifted, with a degree of decoupling between crypto and blockchain technology since last year.Institutions are focusing more on the tokenization of financial products and the issuance of stablecoins, rather than crypto-native products such as DeFi and staking, with crypto assets like Bitcoin, and Ethereum being excluded from the discussion. However, asset management firms are still considering launching crypto products to enrich client options.