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Coinbase CEO says banks are fighting stablecoin rewards with ‘boogeyman’ issues
Coinbase CEO Brian Armstrong and other crypto executives took to Capitol Hill this week as part of a regulatory showdown between the industry and banks with potentially trillions at stake. Banking advocacy groups are urging lawmakers to prohibit crypto exchanges like Coinbase from offering customers rewards that are structured like interest payments banks offer. “I’m not sure why the banks would want to bring that up again at this point, but they should have to compete on a level playing field in crypto,” Armstrong told CNBC on Wednesday. Coinbase currently offers a 4.1% reward for those holding USDC ... (full story)
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