TechFlow news, on January 7, according to CoinGeek reports, Coinbase Chief Policy Officer Faryar Shirzad warned that the United States may face competitive risks if dollar-backed stablecoins are prohibited from offering "rewards" to users. This warning comes as the People's Bank of China announced plans to allow banks to pay interest on digital yuan wallets starting from January 2026.
Shirzad stated on social platform X that if mishandled during the Senate negotiations on market structure legislation, it could provide a critical competitive advantage to non-U.S. stablecoins and Central Bank Digital Currencies (CBDCs) at the worst possible time. He emphasized that protecting the primacy of the U.S. dollar and the American financial system is crucial.
