Coinbase has intensified its lobbying efforts in Washington as a key cryptocurrency regulation bill moves closer to a markup in the United States Senate. The company is urging lawmakers to avoid provisions that could restrict stablecoin reward programs, which have become an important part of its revenue model.
The proposed legislation aims to bring long-awaited regulatory clarity to the U.S. digital asset market, defining oversight responsibilities and setting rules for crypto platforms. However, debate has intensified around whether exchanges should be allowed to offer yield-like rewards on stablecoins.
Coinbase argues that overly strict limits could stifle innovation and push crypto activity offshore, while banking groups warn that such rewards may threaten traditional deposit systems. As senators prepare to debate and amend the bill, the outcome of the markup is expected to play a crucial role in shaping the future of crypto regulation in the United States.
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