Hundreds of Crypto Firms Slam US Bank's Lobby to Prohibit Stablecoin Yields [Yahoo! Finance]
Coinbase Global, Inc. - Class A (COIN)
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Source: Yahoo! Finance
The group includes major crypto firms such as Coinbase, Gemini, and Kraken. The move escalates a high-stakes battle over who has the right to pay interest on stablecoin deposits. The main bone of contention is that the GENIUS Act explicitly prohibits stablecoin issuers like Tether from paying dividends. However, there is currently a loophole that allows third-party platforms, such as crypto exchanges, to pass this stablecoin yield on to users. As a result, traditional banking groups are aggressively lobbying to close this avenue, arguing that it constitutes regulatory arbitrage. The banking lobby contends that if unregulated fintech platforms are allowed to offer high yields on cash-equivalent tokens, it poses a systemic risk to the traditional financial architecture. In briefings with Capitol Hill, they warned that preserving the current rules could trigger a massive capital flight. They estimated potential deposit outflows of up to $6.6 trillion from commercial banks to
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News
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- Bitget Wallet and Alchemy Pay Launch Zero-Fee USDC On-Ramp Backed by CoinbaseGlobeNewswire
- 125 Crypto Groups Tell Congress Stablecoin Yield Ban Favors Big Banks [Yahoo! Finance]Yahoo! Finance
- VanEck's new Avalanche ETF filing to include staking rewards for AVAX investors [Yahoo! Finance]Yahoo! Finance
- Cathie Wood Dumps $11 Milllion Worth Of Tesla Stock While Doubling Down On These Notable Crypto Plays [Yahoo! Finance]Yahoo! Finance
COIN
Earnings
- 10/30/25 - Beat
COIN
Sec Filings
- 12/18/25 - Form 144
- 12/17/25 - Form 4
- 12/16/25 - Form 8-K
- COIN's page on the SEC website