Peter Schiff: US banking lobby remains superior to crypto's

Noted Bitcoin skeptic and gold bull Peter Schiff has argued that the U.S. banking industry's lobbying power remains superior to that of the crypto sector. He predicted that this influence will result in stablecoin issuers being legally barred from paying interest within the United States. Schiff noted that while issuers would retain all interest income for themselves under such a rule, the ability to pay interest would have attracted a much larger customer base. He added that this situation provides another reason for investors to hold gold tokens, or tokenized gold. The comments come as both the banking and crypto industries are engaged in a lobbying competition over provisions related to stablecoin interest in a market structure bill, known as the Clarity Act, which is currently pending in the U.S. Congress.