Coinbase CEO Brian Armstrong @brian_armstrong said banks are lobbying Congress to amend the GENIUS Act, but Coinbase sees this as a red line and will oppose any changes. He added banks will eventually embrace stablecoins, making current opposition futile. The Act bans issuers from rewards but allows exchanges—changes could hurt innovation.
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COINBASE CEO: WE WILL NOT ALLOW THE GENIUS ACT TO BE AMENDED — THIS IS COINBASE’S RED LINE
Coinbase CEO Brian Armstrong @brian_armstrong said banks are lobbying Congress to amend the GENIUS Act, but Coinbase sees this as a red line and will oppose any changes. He added banks will eventually embrace stablecoins, making current opposition futile. The Act bans issuers from rewards but allows exchanges—changes could hurt innovation.