Coinbase may reconsider support for US market structure bill: Bloomberg

Coinbase Global is reportedly intensifying lobbying efforts and may reconsider its support for the upcoming U.S. crypto market structure bill if it imposes restrictions on offering rewards for stablecoin holders beyond enhanced disclosure rules. Coinbase views broader limits as unacceptable because stablecoin rewards are crucial to its business model, potentially generating $1.3 billion in revenue in 2025. Current discussions suggest a potential limit restricting rewards only to regulated financial institutions, which Coinbase opposes as it seeks to maintain platform-based rewards to foster competition. This dispute over stablecoin yield is reportedly straining bipartisan support for the broader bill, which aims to clarify regulatory oversight between the SEC and CFTC, potentially delaying its passage despite prioritization by the Trump administration.

(Source：The Block)