Coinbase: 'Genius Bill More Open to Stablecoin Rewards Than Clarity Act'

Coinbase, the largest crypto exchange in North America, has released an analysis stating that the Genius Bill is more receptive to paying out stablecoin rewards than the Clarity Act.

Coinbase CEO Brian Armstrong said on the 16th that 'the Genius Bill contains much more openness regarding stablecoin rewards compared to the Clarity Act.'

Armstrong explained, 'It's disappointing that the Clarity Act isn't progressing in the Senate, and while bipartisanship continues, there's a possibility the bill could regain momentum. However, we can no longer wait for Congress.' He added, 'Since we made difficult concessions during the push for the Clarity Act, perhaps this outcome is actually better.'

Earlier on the 16th, the Senate proceeded with cloture on the Clarity Act, which was ultimately rejected by a vote of 49-50.