Coinbase CEO: Strongly opposes any attempt to reinstate the GENIUS Act
TL;DR
Coinbase CEO Brian Armstrong strongly opposes reinstating the GENIUS Act, vowing to protect customer and crypto industry interests. He predicts banks will eventually support stablecoins for business opportunities, making current efforts futile.
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According to Foresight News , Coinbase CEO Brian Armstrong tweeted, "We will not allow anyone to reinstate the GENIUS Act. This is our bottom line. We will continue to protect the interests of our customers and the crypto industry. My prediction is that in a few years, once banks realize the huge business opportunities presented by stablecoins, they will change their stance and lobby governments to allow them to pay interest and yields. So their current efforts are completely futile (and unethical). The innovator's dilemma is ever-present."