The Office of the Comptroller of the Currency (OCC) has finalized its GENIUS rules, prohibiting stablecoin issuers from passing yield directly to users. The regulatory framework effectively closes off a key competitive advantage that stablecoins have historically leveraged against traditional banking products. In contrast, the rules leave tokenized deposits fully permitted, allowing banks to offer yield-bearing digital deposit instruments without restriction. This asymmetry aligns with longstanding advocacy from the bank lobby, which sought to prevent stablecoins from competing on interest rates while preserving banks' ability to innovate in the same space. The distinction sets up a clear regulatory divide in the ongoing competition between stablecoin issuers and traditional financial institutions, with banks gaining a structural advantage in offering yield to end users through tokenized deposit products.