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🚨 BRIAN ARMSTRONG SAYS REOPENING THE GENIUS ACT IS A RED LINE
Coinbase CEO Brian Armstrong is pushing back against bank lobbying to reopen the GENIUS Act ; the 2025 law that created the first clear U.S. framework for blockchain-based payments and on-chain financial services. He says banks want to undo parts of it to slow blockchain adoption and protect their existing business model.
Armstrong argues this isn’t about safety : it’s about blocking competition ; and predicts banks will eventually switch sides once they see the profit in operating on blockchain rails instead of resisting them.
A fight could be brewing between old-guard banking and the next era of blockchain finance.