CoinFund President Criticizes U.S. Senate's Crypto Market Structure Bill

According to ChainCatcher, CoinFund President and former banker Christopher Perkins expressed criticism on social media regarding the U.S. Senate's ongoing review of a cryptocurrency market structure bill. Perkins, who is also a member of the Commodity Futures Trading Commission's (CFTC) Global Markets Advisory Committee, argued that restricting retail investors from earning rewards related to stablecoins is an inappropriate policy, especially given the persistent issue of income inequality. The United States already has a stablecoin bill known as GENIUS, and Perkins questioned why policymakers would prevent ordinary investors from benefiting from stablecoin yields. Perkins suggested addressing banks' concerns about deposit and loan outflows by releasing regulatory capital and integrating blockchain technology, which he believes would be a win-win solution. He predicted that if such a strategy is implemented, both global systemically important banks (GSIBs) and community banks would eventually support policies allowing retail investors to earn stablecoin rewards.