BlockBeats News, February 28th, Coinbase Chief Policy Officer Faryar Shirzad stated that Coinbase and CEO Brian Armstrong have been engaged in negotiations for months and have committed to multiple potential compromise solutions. Coinbase has always prioritized protecting the GENIUS Act and the interests of the average American, and appreciates the efforts of Patrick Witt, Executive Director of the Digital Asset Advisory Committee, in driving issue resolution. They look forward to advancing the President’s crypto agenda smoothly.
Decrypt Senior Reporter Sander Lutz stated that the White House had initially hoped to reach an agreement on stablecoin yields before this weekend. However, a banking industry source directly involved in the negotiations said that this goal “will not be achieved.” The current discord between the crypto industry and banking lobbying groups on the issue of “whether stablecoins should generate yields” remains significant. This dispute has become a major obstacle to advancing the crypto market structure bill and directly points to Coinbase CEO’s insistence that stablecoins should be able to generate yields.
