Coinbase предупреждает о рисках для США в цифровой гонке с Китаем из-за ограничений на стейблкоины Coinbase Warns of Risks for the US in the Digital Race with China Due to Stablecoin Restrictions

The U.S. may lose its competitive edge to China due to stringent regulations on stablecoins, according to Coinbase representative Faryar Shirzad.

He highlighted the risks of limiting the returns on American assets, suggesting that this creates an advantage for Beijing, which is in contrast implementing a system that provides interest to users of its digital yuan (CBDC).

Debates continue in the U.S. surrounding the GENIUS Act, which prohibits issuers of stablecoins from paying interest to asset holders. Currently, discussions are focused on the strict enforcement of this regulation.

Tensions are rising in light of recent news from China. The People’s Bank of China announced that starting from January 1, 2026, commercial banks will be able to pay interest on deposits in digital yuan (e-CNY). This effectively changes the status of e-CNY from «digital cash» to a full-fledged savings asset.

Shirzad views this as a concerning signal. He believes that misguided Senate policies will benefit foreign CBDCs and non-American stablecoins.

The Coinbase executive emphasized that tokenization is the future, and that stablecoins under U.S. jurisdiction should remain the primary method of payment. He urged lawmakers to protect the dollar’s dominance rather than the interests of entrenched players.

In the U.S., positions are divided. The Blockchain Association and over 125 companies are urging Congress not to ban interest payments, arguing that such restrictions would weaken the competitiveness of U.S. assets.

On the other hand, the American Bankers Association insists on stringent regulations. Traditional financial institutions fear that exchanges will exploit loopholes for hidden payments and lure customers away from them.

It is worth noting that in November, the People’s Bank of China reaffirmed its stance on the illegal status of digital assets in the country and outlined the risks associated with using stablecoins.