Crypto Advocates Renew Stablecoin Rewards Push as Market Structure Bill Nears Key Senate Vote
The debate surrounding stablecoin rewards is growing louder as the Senate Banking Committee approaches a key markup vote on a crypto market structure bill next Thursday.
After hundreds of community bank leaders urged U.S. Senate members to protect local lending from perceived stablecoin risks, several high-profile members of the crypto industry pushed back, including Coinbase Chief Policy Officer Faryar Shirzad.
“Congress already settled this in GENIUS—reopening it now only creates uncertainty and risks the future of the U.S. Dollar as commerce moves on-chain,” he said on X, referring to provisions in landmark stablecoin legislation passed this summer.
Under those rules, companies like Coinbase are able to make…
