Coinbase Threatens to Withdraw Crypto Bill Support
Coinbase Global is pressuring US legislators to preserve its ability to offer rewards to customers who hold stablecoins. The company views this offering as at risk if certain restrictions under discussion make it into a major crypto bill set to be unveiled. Coinbase is the largest US crypto exchange. The company may reconsider its support for the digital-asset market-structure bill, scheduled for markup in at least one Senate committee, if the text includes anything beyond enhanced disclosure requirements tied to rewards, according to a source familiar with the firm’s thinking.
One option under consideration would restrict the ability to offer rewards to regulated financial institutions. This move is backed by some in the banking…
