Coinbase CEO Says Proposed Stablecoin Yield Ban Would Boost Profits but Harm Competition

Coinbase CEO Brian Armstrong said on Feb. 14 that a legal ban on stablecoin yield would paradoxically increase the exchange's profits, as Coinbase currently pays high rewards to USDC holders, BlockBeats reports. Armstrong said the company opposes such a ban, arguing that customer rewards benefit consumers and that maintaining the global competitiveness of regulated stablecoins serves U.S. interests. His comments addressed the ongoing debate over the CLARITY Act, which involves whether platforms should be prohibited from offering yield on stablecoins.