Coinbase Global Inc. (NASDAQ:COIN) CEO Brian Armstrong expressed concerns on Wednesday over the competitiveness of dollar-pegged stablecoins in light of China’s decision to pay interest on its central bank digital currency.

Armstrong Questions Policymakers

In an X post, Armstrong argued that China’s move to pay interest on its official digital currency, Digital Yuan, gives it a “competitive advantage.”

“Rewards [or even paying interest] benefits ordinary people just like community lending does. We have to let the market do both,” Armstrong said.

The cryptocurrency mogul said the U.S. is “missing the forest through the trees” and risks losing the competitive edge if…

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