Coinbase CEO is actively lobbying US lawmakers to protect cryptocurrency rewards.

Coinbase CEO Brian Armstrong met with lawmakers on Capitol Hill to lobby for potential restrictions on stablecoin rewards. Armstrong stated that banking lobbying groups are attempting to pass legislation limiting stablecoin rewards, which would hinder the crypto industry's ability to compete with banks for funding. He believes Americans should have the right to earn higher returns on their funds, and banks are worried that this would force them to raise deposit rates for their customers.