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Our thesis: Crypto is going to eat most of financial services, and @coinbase is 100% focused on crypto.
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brian_armstrong
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Great progress on U.S. crypto legislation this week and more to come next week: ➡️ Market structure draft legislation introduced + discussed. ➡️ Bipartisan work continues to bring stablecoin legislation to the floor (likely voting again early next week) ➡️ @StandwithCrypto Day happening 5/14 next week with 60+ crypto founders coming to DC - advocates will keep beating this drum One thing is clear - both sides care deeply about getting clear rules for crypto and getting it right. Both sides are leading and engaging. After years of being sidelined, crypto isn't just at the table, it's at the top of the agenda.
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Good to see the Senate finally voting on stablecoin legislation. It’s a first round to the negotiation, and I expect there will be another vote early next week after more debate. Frankly, the bill still needs some work (like fixing the prohibition on yield and interest which makes no sense). But this is all part of the process. Once all members have had time to review the text, and a few changes are made, I suspect the GENIUS Act will be one step closer to the President’s desk with a strong bipartisan vote. The 52m American voters who hold crypto are watching closely!
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Congress has a real opportunity this week to advance stablecoin and market structure legislation. We strongly support the Senate starting debate on the GENIUS Act -- and we need 60 votes to get there. We also welcome House efforts to build on FIT21’s momentum. Both chambers need to act now if we hope to pass comprehensive legislation into law before August.
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