Scaramucci Warns Stablecoin Yield Ban Could Erode Dollar's Edge
Anthony Scaramucci said the CLARITY Act’s broader prohibition on earning yield from stablecoins risks undercutting the U.S. dollar’s international advantage by making dollar-linked digital assets less attractive compared with China’s digital yuan and foreign platforms that can offer returns. He argues that yield is a core incentive for liquidity and adoption; removing it could drive users and capital to jurisdictions with friendlier digital-asset rules. If liquidity migrates abroad, the move could weaken demand for dollar-denominated stablecoins, slow domestic crypto innovation, and cede strategic ground in the race to set global digital-currency standards. Scaramucci’s comments add to industry concerns that a blunt regulatory ban may have unintended geopolitical and market consequences, prompting calls for more targeted rules that balance consumer protection with competitiveness.