Coinbase CEO Brian Armstrong has declared the company's firm stance against any revisions to the Genius Act, labeling it a "red line." Armstrong's comments, made on X, come as banks lobby to amend the legislation, which currently restricts stablecoin issuers from offering rewards but permits platforms like Coinbase to do so. Armstrong criticized the banks' efforts as futile and unethical, predicting that they will eventually endorse stablecoin interest. The Genius Act is a significant piece of cryptocurrency legislation that plays a crucial role in shaping the industry. Armstrong's opposition highlights the ongoing tension between traditional financial institutions and crypto platforms over regulatory frameworks.