Coinbase Not Supporting New Crypto Bill Compromise: Report
The post Coinbase Not Supporting New Crypto Bill Compromise: Report appeared on BitcoinEthereumNews.com.
Crypto exchange Coinbase is reportedly against the latest compromise over stablecoin yields that the Senate is looking to include in its crypto market structure bill. Coinbase representatives told Senate lawmakers in a meeting on Monday that they had concerns over the language around stablecoin yields in the new compromise version of the bill, Punchbowl News reported Wednesday, citing four people briefed on the exchange. A proposal that circulated earlier this week would have reportedly prevented third parties, such as exchanges, from paying stablecoin yields, a measure aimed at addressing banks’ concerns over the risk of deposit flight. Coinbase is one of the largest crypto lobbyists in the US, and its withdrawal of support for the bill in January came just before the Senate Banking Committee indefinitely postponed a markup to advance the legislation. Republican Senator Thom Tillis and Democratic Senator Angela Alsobrooks are leading the latest effort to advance the bill, and talks are reportedly ongoing. Coinbase did not immediately respond to a request for comment. Senator Alsobrooks, pictured at a banking event in early March, said the compromise bill may leave both crypto and the banks unhappy. Source: American Bankers Association Yield fight plagues Senate bill The fight between the crypto and banking lobbies over the Senate’s bill, which aims to outline how regulators should approach crypto, has largely revolved around stablecoin yields. The White House has hosted at least three meetings for the groups to agree on a compromise, which has yet to materialize. Banking groups argue that stablecoin yield payments by exchanges are a loophole in the GENIUS Act, which banned stablecoin issuers from paying yield to holders, and present a risk of deposit flight from the banking system. Stablecoin yields are a major business for crypto exchanges, and the crypto lobby has argued that the risks…
Filed under: News - @ March 26, 2026 6:26 pm