Mr. Scaramucci Criticizes Ban on Stablecoin Yields, Expresses Concern Over Competitiveness Against Digital Yuan

On the 17th, Anthony Scaramucci, founder of the major U.S. hedge fund SkyBridge Capital, criticized the prohibition of yield-bearing stablecoins in the cryptocurrency market structure bill.

He stated that 'banks are trying to hinder the provision of yields by stablecoin issuers to prevent competition,' and pointed out the possibility that emerging countries might opt for yield-bearing payment systems.

Since January, the People's Bank of China has allowed commercial banks to offer interest on deposits of the digital yuan (CBDC). Coinbase CEO Brian Armstrong has previously noted that the ban on yields for U.S. stablecoins could affect the foreign exchange market...