Coinbase Proposes Allowing Non-Issuers to Offer | Crypto Work Pro
The US Treasury is receiving opposing steerage on how to
implement the GENIUS Act, which regulates stablecoin funds. Coinbase requested
the division to restrict a ban on stablecoin curiosity to issuers. Non-issuers,
comparable to crypto platforms, needs to be allowed to offer curiosity, the company
mentioned, arguing this aligns with Congress’s intent.
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The
GENIUS Act was signed into law in July. It is predicted to take impact
both 18 months after enactment or 120 days after federal regulators challenge
last guidelines, probably in late 2026 or January 2027.
BPI Pushes Treasury to Extend Stablecoin Interest
Prohibition
At the identical time, banking organizations led by the Bank
Policy Institute urged the Treasury to prolong the prohibition to
non-issuers. In a joint announcement, BPI and companion teams referred to as for a
blanket ban on stablecoin curiosity funds, protecting exchanges and associated
entities.
The institute mentioned the ban ought to apply whether or not funds
come immediately from an issuer or by associates or companions. BPI had
beforehand warned that permitting stablecoin curiosity could lead on to as a lot as
$6.6 trillion in deposit outflows from conventional banks.
Just launched – ABA and 52 state banking associations urge @USTreasury to uphold GENIUS Act’s ban on stablecoin curiosity: https://t.co/2P2jelAuAg
— American Bankers Association (@ABABankers) November 4, 2025
Coinbase Suggests Treating Stablecoins as Cash
Equivalents
Coinbase famous that lawmakers deliberately excluded
non-issuer third events from the ban, as a broader prohibition would have
hindered stablecoin market development. It added that the Treasury doesn’t
have authority to override Congress.
Coinbase additionally really useful excluding non-financial software program,
blockchain validators, and open-source protocols from the law. The company
recommended treating cost stablecoins as money equivalents for tax and
accounting functions.
Trading Volume Drives Coinbase Quarterly Revenue Growth
Meanwhile, Coinbase
reported third-quarter 2025 earnings of $1.50 per share, surpassing analyst
estimates. The exchange generated $1.86 billion in income, a 25 per cent
increase from the earlier quarter, pushed primarily by greater trading exercise.
Transaction income contributed $1 billion, whereas
subscription and companies added $747 million. Stablecoin-related income was
$355 million. Trading quantity grew 38 per cent general, with US spot quantity
rising 29 per cent. Net income reached $433 million, supported by sturdy
operational efficiency.
This article was written by Tareq Sikder at www.financemagnates.com.
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