In a recent statement, John E. Deaton, the attorney representing XRP holders in the ongoing SEC lawsuit against Ripple Labs, voiced his concerns regarding the evolving landscape of stablecoin rewards. His remarks come in light of China's decision to offer interest on its digital yuan, raising questions about the competitive position of the U.S. dollar, as analysts warn in the report.
Лоббирование изменений в GENIUS Act
Deaton pointed out that the American Bankers Association (ABA) is actively lobbying the Senate to amend the GENIUS Act, aiming to close a loophole that currently allows companies like Coinbase and Kraken to offer rewards to consumers. He argued that such restrictions would not serve to protect banks, as the ABA claims, but instead could lead to a greater dependence on China's currency, potentially undermining the U.S. dollar's dominance in the global market.
Критика анти-крипто законопроекта
Furthermore, Deaton criticized the Banking Policy Institute for proposing an anti-crypto bill that he believes harms the interests of average Americans. He warned that yielding to the pressures of the banking lobby could impose a hidden tax on retail investors across the nation. This could ultimately stifle innovation and limit financial opportunities for everyday citizens.
Recent developments in the Ethereum network have attracted institutional interest, particularly following the establishment of clearer regulatory frameworks in the U.S. This contrasts with concerns raised by John E. Deaton regarding stablecoin rewards; for more details, see read more.
