A top executive at Coinbase says the United States could lose ground in the global crypto if it bans interest or rewards on U.S. stablecoins. This warning comes as China is making its own digital currency more appealing.
The debate is happening as U.S. lawmakers discuss how to enforce the GENIUS Act. At the same time, China’s central bank has changed its approach to the digital yuan.
https://coinedition.com/u-s-risks-falling-behind-china-with-stablecoin-interest-ban-coinbase-chief-says/
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tldr; Coinbase’s chief policy officer warns that a U.S. ban on interest or rewards for stablecoins under the GENIUS Act could weaken the U.S. dollar’s global role and push users toward foreign digital currencies, especially as China plans to allow interest on its digital yuan starting January 2026. This move by China could make its digital currency more appealing for international payments. The debate over enforcing the GENIUS Act highlights concerns about U.S. crypto innovation and financial stability.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
What you don’t want the Trump company to get to keep all that sweet sweet interest for the shitcoins they mint?
Ahh the Chinese boogeyman is always helpful to call upon when you’re a grifting crypto exec need to line your pockets more.
Potentially, but I doubt many people outside of China would trust having their net worth sit in the hands of the Chinese government. Not sure why retail wouldn’t want the ability to gain interest on stablecoins though.
No interest on stablecoins? How else are they going to get CBDCs adopted? We have to incentivize people to use CBDCs like China
This was always going to happen. Banks might be a cabal against everyone else, but they’re also in competition with each other. Certain places won’t be allowed to have a higher interest rate when the alternative is 0.
I hate Coinbase with a fiery passion and have been in the space since 2017, but stablecoins and any rewards should be acknowledged if the tokenomics of said rewards are sound and not rehypothecated (ie Celsius).
What stablecoin interest ban?
I’ve never heard this as being part of the GENIUS act.
Big talk from someone who can’t even secure their own platform.
US Politicians risk major political donations if their fat, lazy bankers have to actually compete.
E-CNY starts paying interest tomorrow.
..
das a stretch
Fuck coinbase.Â