Coinbase Policy Chief: Committed to Multiple Potential Compromise Solutions, Looking Forward to Agreement on Stablecoin Yield Issue

On February 28, Coinbase Chief Policy Officer Faryar Shirzad said Coinbase and CEO Brian Armstrong have been in negotiations for months and have proposed multiple potential compromise solutions. Coinbase has consistently prioritized safeguarding the GENIUS Act and the interests of ordinary Americans, and expressed appreciation for the work of Patrick Witt, Executive Director of the Digital Asset Advisory Committee, to advance resolution of the issue. The company looks forward to smoothly advancing the President’s crypto agenda. Decrypt senior reporter Sander Lutz noted that the White House had initially aimed to strike a deal on stablecoin yields by this weekend. However, a banking industry source with direct involvement in the talks said the target “won’t be met.” Current tensions between the crypto industry and banking lobbying groups over whether stablecoins should earn yields remain substantial. This rift has emerged as a key barrier to advancing the crypto market structure bill, and directly ties to Coinbase CEO Brian Armstrong’s insistence that stablecoins should be able to earn yields.