May 3, 2026

Coinbase announced on Friday that a compromise has been reached on a contentious element of a major cryptocurrency bill, potentially advancing the legislation in the U.S. Senate, according to a Reuters report dated May 1.

The legislation had earlier stalled after banks objected to a provision that would have allowed stablecoin issuers and crypto firms to offer reward-bearing products, which banks feared could draw deposits away and complicate their lending operations.

Coinbase and other large crypto firms argued that the ability to offer rewards was essential for attracting customers and that prohibiting such incentives would be anti-competitive.

Coinbase’s chief policy officer stated…