Stablecoin yield distribution has been a contentious flashpoint between the crypto sector and traditional banking institutions, significantly complicating market structure negotiations. While many believed the recently enacted GENIUS Act provided a decisive settlement on this issue, the banking industry is now reopening the dispute. The conflict centers on who captures the economic value generated by stablecoin operations—a question that goes to the heart of how institutional flows will reshape digital asset infrastructure. As regulatory frameworks crystallize post-GENIUS Act, both sides are mobilizing arguments to defend their interests, signaling that this particular battle remains far from concluded.