CoinFund President: US Senate Crypto Bill Limits Stablecoin Rewards

According to Mars Finance, Christopher Perkins, president of CoinFund and a former banker, criticized a proposed cryptocurrency market structure bill currently under consideration by the US Senate, arguing it could restrict retail investors from receiving stablecoin rewards. As a member of the Commodity Futures Trading Commission's (CFTC) Global Markets Advisory Committee, Perkins stated that depriving retail investors of the right to stablecoin rewards is an inappropriate policy, especially given that income inequality remains a significant social issue. He questioned why policymakers would prevent ordinary investors from profiting from stablecoins, given the existing GENIUS stablecoin bill in the US. 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, global systemically important banks (GSIBs) and community banks will eventually accept policies that allow retail investors to receive stablecoin rewards.