A major push for interest-bearing stablecoins at Coinbase has encountered roadblocks within the U.S. legislative landscape. While Brian Armstrong, CEO of Coinbase, advocates for these types of stablecoins, recent actions from Congress have raised concerns. Despite this, Rep. Hill remains noncommittal on formally rejecting the proposal. This creates uncertainty in the industry and among stakeholders. The House Financial Services Committee’s oversight role in crafting stablecoin legislation has put Coinbase CEO Armstrong’s proposal in a challenging position. The Senate Banking Committee recently approved the GENIUS Act without including interest-bearing provisions, a move that is influencing broader legislative trends. If passed into law, this could drastically impact the financial industry and create major changes to how crypto companies operate. The potential for regulatory shifts has caused increased volatility in the cryptocurrency market, with exchanges like Binance and Coinbase reporting a volume drop of 21% recently.** Further regulatory guidance will likely influence how quickly or hesitantly corporations adapt their strategies.