Crypto Giant Opposes ProCrypto Bill Passage

Coinbase Lobbies Against Standalone Stablecoin Bill

• Coinbase and allies are lobbying to prevent standalone stablecoin legislation.
• The GENIUS Act is set for a Senate floor vote soon, aiming to legalize stablecoins.
• Coinbase seeks combined legislation with the market structure bill “FIT21”.
• Stablecoin bills have passed key committee votes in both Senate and House.
• Andreessen Horowitz supports delaying standalone stablecoin votes but isn’t actively lobbying for it.

Coinbase is lobbying Congress to delay standalone stablecoin legislation, preferring a combined approach with the market structure bill. The GENIUS Act, which aims to legalize stablecoins, is nearing a Senate floor vote after passing key committee stages.