The CEO of Coinbase has publicly refuted the banking industry, claiming that banks are trying to maintain their monopoly by blocking stablecoin rewards. Coinbase's confrontation with the traditional finance (TradFi) sector has further escalated, not only increasing lobbying efforts, but also accusing banks of trying to maintain monopolies. On Monday, September 29, Coinbase CEO Brian Armstrong posted on the X platform (formerly Twitter) while lobbying lawmakers in Washington, D.C. on stablecoin regulation.
Armstrong made the remarks on Capitol Hill while the Senate was considering the Digital Asset Market Structure and Investor Protection Act, which specifies cryptocurrency rules not covered by the Digital Asset Transparency and Investor Protection Act (GENIUS Act), will determine which agency is responsible for cryptocurrency regulation and strengthen investor protections.
Coinbase CEO warns Senate against bailing out banks by banning cryptocurrency rewards
2025-09-30 01:39:51
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