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CoinFund President: US Senate Crypto Bill Limits Stablecoin Rewards
Summary: CoinFund President and former banker Christopher Perkins criticized the cryptocurrency market structure bill being considered by the US Senate, suggesting it may restrict retail investors from receiving rewards related to stablecoins. Perkins, a member of the Global Markets Advisory Committee of the US Commodity Futures Trading Commission (CFTC), deemed the deprivation of retail investors' right ...
CoinFund President and former banker Christopher Perkins criticized the cryptocurrency market structure bill being considered by the US Senate, suggesting it may restrict retail investors from receiving rewards related to stablecoins. Perkins, a member of the Global Markets Advisory Committee of the US Commodity Futures Trading Commission (CFTC), deemed the deprivation of retail investors' right to stablecoin rewards as inappropriate, especially against the backdrop of significant income inequality. The US already has a stablecoin bill called GENIUS, prompting questions as to why policymakers would hinder ordinary investors from benefiting from stablecoins. Perkins proposed addressing banks' concerns about deposit and loan outflows by releasing regulatory capital and integrating blockchain technology, believing it would be a win-win solution. He predicted that if this approach is taken, both Global Systemically Important Banks (GSIBs) and community banks would eventually accept policies allowing retail investors to receive stablecoin rewards.
