Scaramucci: CLARITY Act's stablecoin interest ban could weaken US dollar

Anthony Scaramucci, founder of U.S. hedge fund SkyBridge Capital, has warned that a potential ban on interest payments for stablecoins under the CLARITY Act could weaken the competitiveness of the U.S. dollar. According to Cointelegraph, Scaramucci noted that China's central bank began paying interest on digital yuan deposits in January, adding that a U.S. stablecoin system without interest would struggle to compete. Previously, Coinbase withdrew its support for the market structure bill, citing similar concerns over the potential blocking of stablecoin reward features. The White House had stated it would also withdraw its support for the bill unless Coinbase returned to discussions with an acceptable proposal on stablecoin yields.