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Gate Square New & Returning Creator Rewards are ongoing!
Your ideas may be more valuable than you think!
Make your first post or come back post to share a $20,000 monthly prize pool!
Post with #MyFirstPostOnSquare to receive a $50 Position Voucher each
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CoinFund President Perkins: U.S. Senate Crypto Bill Limits Stablecoin Rewards
Deep Tide TechFlow News, January 09, CoinFund President and former banker Christopher Perkins posted on social media criticizing the cryptocurrency market structure bill currently under review by the U.S. Senate, which could restrict retail investors from earning rewards related to stablecoins.
As a member of the U.S. Commodity Futures Trading Commission (CFTC) Global Market Advisory Committee, Perkins stated that depriving retail investors of the right to earn rewards from stablecoins is an inappropriate policy, especially in the context of income inequality remaining a significant social issue.
The U.S. already has a stablecoin bill called GENIUS, and questions why policymakers would want to prevent ordinary investors from benefiting from stablecoins.
Perkins suggested addressing banks’ concerns about deposit and loan outflows by releasing regulatory capital and integrating blockchain technology, believing this would be a win-win solution.
He predicted that if this approach is adopted, globally systemically important banks (GSIBs) and community banks will ultimately accept policies allowing retail investors to earn rewards from stablecoins.