The U.S. FDIC's proposed rulemaking under the GENIUS Act marks a crucial step toward establishing a regulatory framework for stablecoins, with South Korea following suit in its legislative efforts. As yield-bearing stablecoins gain traction against the backdrop of unyielding CBDC policies, experts warn that the non-remunerative stance of the U.S. CBDC may hinder its competitiveness in the market. With both nations classifying stablecoin issuers as financial institutions, compliance becomes imperative, especially as USDC gains favor over USDT in transaction volume amidst a substantial shift in the stablecoin landscape.