🚨 BRIAN ARMSTRONG: “REOPENING GENIUS ACT IS A RED LINE”
Brian Armstrong, CEO of Coinbase, has strongly opposed the lobbying efforts of U.S. banks to reconsider the GENIUS Act – the 2025 legislation that lays the first legal groundwork for blockchain payments and on-chain finance in the U.S.
According to Armstrong, the issue is not about system safety, but rather:
Traditional banks want to slow down the adoption of blockchain
Protect old business models based on intermediaries, high fees, and closed systems
Armstrong's viewpoint is very clear:
This is a battle about competition, not risk management.
He believes that banks are against blockchain today, but will be forced to switch sides when they realize:
On-chain payments are cheaper
Operate more efficiently
Higher profit margins if they become builders instead of roadblocks
📌 Implications for the market
The GENIUS Act is the legal pillar for stablecoins, payments, and DeFi in the U.S.
If reopened, short-term policy risks will increase
But in the long term, this conflict shows that blockchain has become large enough to threaten the old financial system
The confrontation between traditional banks and blockchain finance is entering a public phase.#CryptoRegulationBattle #coinbase
