Coinbase CEO Brian Armstrong anticipates that banks will advocate for the ability to offer stablecoin yields as regulatory frameworks evolve. Armstrong's remarks come in response to the GENIUS Act, which currently restricts direct yield offerings but permits them through intermediaries. Coinbase, which provides USDC yields, opposes any legislative changes that would impact this model.
The stablecoin market is projected to reach $500 billion by 2026, with regulatory developments like the EU's MiCA expected to significantly influence the sector. Armstrong's comments highlight the ongoing debate over stablecoin regulation and the potential role of traditional banks in this growing market.
Coinbase CEO Foresees Banks Lobbying for Stablecoin Yields
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