Sujoy Sen

Photojournalist at heart | views expressed are my own

[Charu @Charu_Sethi]

The commentary by @JonesDay about OCC's recently published 376 pages telling stablecoins they can't pay yield is insightful. (Link ⏬)

The unintended consequence might be the biggest DeFi tailwind of 2026.

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Here's what the NPRM actually does:

Bans issuers from paying yield. Known.

Then extends that ban via a "rebuttable presumption" to affiliates and related third parties.

This kills:
→ Circle-Coinbase revenue sharing
→ Paxos-PayPal PYUSD model (~4% rewards to holders)

Centralised yield on payment stablecoins is being shut down aggressively.

---

But here's what it doesn't reach:

DeFi protocols.

Aave. Ondo. Pendle. On-chain treasury platforms.

All sit outside OCC jurisdiction.

And the Senate CLARITY Act draft explicitly carves out "activity-based rewards" — liquidity provision, staking, protocol participation — from the yield ban.

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The bifurcation the OCC is writing into law:

Issuer-paid yield: prohibited.
Protocol-earned yield : currently permitted.

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Now think about what this means for an SME holding $50K in USDC as working capital.

(This is already standard practice in East Africa, Southeast Asia, and LatAm.)

They can't earn yield from Circle.

But they can deploy into tokenized Treasury vaults at 3.75–5.3%.

Or structured DeFi at 8–12%.

24/7. No banking relationship required.

---

The most counterintuitive outcome possible:

U.S. regulation designed to protect bank deposits becomes the single largest catalyst for on-chain DeFi treasury adoption.

---

Comment period closes May 1.

Every SME platform, DeFi protocol, and treasury team should be submitting.

The final rule will define where stablecoin yield lives for the next decade.

[ME Group @MetaEraHK]

📸MetaEra @ Token2049 'Polkadot Decoded Asia 2024' highlights!

@Unique_NFTchain CMO Charu Sethi delivered a keynote speech on 'Advancing NFTs in the Polkadot Ecosystem'.

He plans to position Polkadot as a leading NFT ecosystem.

#Token2049 #Polkadot #MetaEra

[Sonam Wangchuk @Wangchuk66]

20th Day OF MY #CLIMATEFAST
3000 people fasting with me. But still not a word from the government.
Very unusual for a democracy... when 90% of the population have come out to remind the leaders of their promises and 100s have been on fast some for 20 days.
But we're very impressed by the public support nationwide... making up for the compromised mainstream media.
#SaveLadakh #SaveHimalayas #SaveGlaciers #6thSchedule @JimCameron @GretaThunberg @LeoDiCaprio @350 @UNFCCC @UN @UNEP

[Ecosystm @ecosystm360]

Ecosystm is excited to reveal the findings of the Global Sustainability Barometer Study, conducted in collaboration with @Kyndryl and @Microsoft, to drive meaningful conversations at the @COP28_UAE summit!
Read More📑:https://t.co/tmVUakN6Gs
@uloeffler @shellyblackburn @sujoysen

[Ryder Cup Europe @RyderCupEurope]

EUROPE IS ON FIRE 🏆🇪🇺

#TeamEurope | #RyderCup

[Anshu Sharma @anshu_seeds]

The stuff we learn from people facing disasters on the frontlines of poverty and climate change. @sanny_jegillos asks incisive questions, and makes us think, as always!

[Sujoy Sen @sujoysen]

A real-time, #AI-powered digital nerve center to manage complex IT estates. Sound good? You bet it does

Learn more about the concept, creation & vision for the future from some of our leading industry experts who built Kyndryl Bridge: https://t.co/zoAx6z5QUc

#TheHeartofProgress

[Christine Mohan @christinemohan]

Breaking! @Charu_Sethi onstage at @consensus2022: @Unique_NFTchain will buy Cryptopunk #3042, move it to @Polkadot, fractionalize it and sell for free to democratize as “Punks for the “People. NFTs should not be a status symbol for the rich.

[Sujoy Sen @sujoysen]

👏🏼👏🏼

[Unique Network @Unique_NFTchain]

.@Charu_Sethi will be speaking at @CoinDesk’s #Consensus2022, the #crypto & #blockchain event of the year! 🚀

Celebrate all sides of crypto, blockchain and #Web3 and their wide-reaching effects with us!

See you in Austin, June 9-12!

🎟️ https://t.co/Zrp499fSxd 🎟️

[Anshu Sharma @anshu_seeds]

#AI helps take precise and quick decisions on #disaster preparedness, protecting lives from incoming disasters and making infrastructure safer in the long run. The result: massive savings, both for the state and communities.
https://t.co/FApEi8GflT

[Sujoy Sen @sujoysen]

@PHassey Safe travels Phil - you know uv got friends you can grab a drink with in BLR @binduoleti24 @Anjali2806

[Sujoy Sen @sujoysen]

Tune in - Top 5 insights to shape your digital workplace strategy in partnership with @ecosystm360 #TheHeartofProgress @lucadeste @Anjali2806 @Kyndryl

[Ecosystm @ecosystm360]

Every organisation today is re-defining the way they do business. What will the Digital Enterprise look like in 2022 and beyond? We start by exploring the 5 key insights that will help you build a Digital Workplace.
@Kyndryl #DigitalTransformation

https://t.co/1KzVTzTC5x

[Maria Winans @MariaWinans]

This partnership represents @Kyndryl’s dedication to bringing the very best skills to our customers. Thrilled to see this announcement! #TheHeartofProgress

[Blake Emal @heyblake]

7-minute masterclass in marketing.

[Unique Network @Unique_NFTchain]

📢We are excited to announce that $QTZ will be listed on @MEXC_Global on the 8th Feb, 2022 🚀
Get prepared!!
Hop over to the blog to know all about it and how you can participate!📈
#MEXCGlobal #Kusama #Polkadot
https://t.co/O7QaUr9mZm

[Vijayalakshmi V @vijiv15]

Congratulations to @SeedsIndia - and the continued work to support communities on the frontlines of the climate crisis. Here's to the many inspiring partnerships, innovative ideas and beautiful buildings that have developed along the way. #DRR

[Sujoy Sen @sujoysen]

Incredibly happy and proud to see this recognition for @SeedsIndia team congratulations @anshu_seeds and @manu_seeds

[Narendra Modi @narendramodi]

SEEDS, which has been conferred the 2021 Subhas Chandra Bose Aapda Prabandhan Puraskar, has been working on disaster management for the past 3 decades. Their focus on using technology and capacity building is remarkable. They have touched over 30 lakh lives via their work.

[Sujoy Sen @sujoysen]

@SeedsIndia @anshu_seeds @manu_seeds Congratulations team @SeedsIndia and @anshu_seeds and @manu_seeds am so happy to read this news

[Sujoy Sen @sujoysen]

@riakalaw @Kyndryl Thank you Ria - so glad you were part of our celebration!

[Ria Kalaw @riakalaw]

Happy birthday to our @Kyndryl ASEAN and PH families. Congratulations on your launch day. #TheHeartofProgress