Coinbase Urges Treasury to Adhere to GENIUS Act Amid Pressure from TradFi

Coinbase has urged the U.S. Treasury Department to follow Congress’s intent for the GENIUS Act, arguing that caving in to pressure from traditional financial institutions could stifle stablecoin innovation. The exchange believes the act was designed to promote responsible growth in the sector and strengthen US crypto leadership while modernizing payment infrastructure. Coinbase criticizes banking groups for calling on regulators to close what they view as a