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Brian Armstrong Warns Banks Against Revising GENIUS Act For Crypto Rewards
Coinbase CEO Brian Armstrong warned that any attempt to reopen the GENIUS Act would cross a “red line,” accusing banks of lobbying Congress to limit stablecoin competition. Armstrong said the company would continue opposing efforts to revise the law, emphasizing that stablecoin rewards and fintech platforms should remain operational under current regulations. His comments come amid growing discussions on stablecoin legislation and banking influence. Armstrong expressed concern over banks using political pressure to block competition from stablecoins. He said in a post on X, “We won’t let anyone reopen ... (full story)
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