BlockBeats news, on February 28, Coinbase Chief Policy Officer Faryar Shirzad stated that Coinbase and CEO Brian Armstrong have been engaged in negotiations for months and have committed to several potential compromises, with Coinbase始终 prioritizing the protection of the GENIUS Act and the interests of ordinary Americans. He thanked Patrick Witt, Executive Director of the Digital Assets Advisory Committee, for his efforts in advancing solutions, and expressed anticipation for the successful implementation of the President’s crypto agenda.
Senior journalist Sander Lutz stated that the White House originally hoped to reach an agreement on stablecoin yields by the end of this weekend, but a banking insider directly involved in the negotiations said this goal “will not be achieved.” Significant disagreements remain between the current crypto industry and banking lobbying groups on whether stablecoins should be allowed to generate yields. This dispute has become a major obstacle to the progress of the Crypto Market Structure Act, with Coinbase’s CEO firmly asserting that stablecoins should be permitted to generate returns for users.