PBOC to Allow Interest on e-CNY from Jan. 1, 2026, Stirring US Stablecoin Dispute

China's PBOC will permit commercial banks to pay interest on e‑CNY balances, with the framework taking effect Jan. 1, 2026. In the US, banks and crypto firms split over enforcing the GENIUS Act's ban on stablecoin yields, and Dec. 18 letters intensified the dispute. A Coinbase executive warns restrictions could weaken the dollar's digital competitiveness.