According to TheBlock, Coinbase submitted feedback to the US Treasury, calling on it to strictly follow the original intention of Congress when formulating the implementation details of the GENIUS Act and avoid excessive regulation, especially excluding non-financial software, blockchain validators, and open-source protocols.
Coinbase's chief policy officer noted that regulations should not treat third-party rewards programs as "interest", so as not to violate the spirit of the bill. Coinbase also proposes treating payment stablecoins as cash equivalents to handle related tax and accounting issues. The GENIUS Act, signed in July 2025, establishes the US federal regulatory framework for stablecoins.
Coinbase is calling on the Treasury Department to ensure that the GENIUS Act regulations do not deviate from the original congressional intent
2025-11-06 06:04:08
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