Coinbase no dey gree wit bank lobby to block stablecoin rewards
Coinbase don form oppose di US banking lobby dem we dey push to extend di GENIUS Act ban to merchant stablecoin rewards like cashbacks and loyalty points. Policy chief Faryar Shirzad talk say SEC and other regulators suppose follow di law as e be, warn say if dem ban stablecoin rewards e go block customer freedom and innovation. Coinbase tell say stablecoin payment fit save US merchants over $180 billion for card fees every year, na im make dem dey push to make stablecoin payment catch ground well well and make regulation clear.
Bullish
Coinbase successfull pushback against proposed ban for stablecoin rewards dey boost confidence for stablecoin payment adoption. By highlight $180 billion wey merchants fit save for fees plus beg regulators make dem follow the law way dey, the firm reduce regulatory confusion–which na one big reason why people dey want stablecoin. Short term, market fit dey positive for big stablecoins like USDC as traders dey expect say more merchants go use am. Long term, clearer rules plus cost savings fit support more transaction volume and network growth, wey go make dem dey optimistic.