Read – https://www.kucoin.com/news/flash/coinbase-opposes-clarity-act-over-stablecoin-yield-provisions
A big part of Coinbase’s fight here is about not getting outcompeted by both banks and other crypto platforms.
Read – https://www.fintechweekly.com/news/clarity-act-banks-winning-stablecoin-yield-2026
Coinbase has also warned US lawmakers that cutting off stablecoin rewards will slow crypto innovation and make the U.S. less competitive globally.
This also implies there are fears about it’s own growth and market share. Maybe it isn’t as novel of idea as presented. Seriously, why would they suffer from competition if it’s concept is internally designed? All in-House innovation should become stronger, unless something is off ethically off on the development side.
Compeititon is usually not a problem if the original idea is theirs and there aren’t unnatural tactics to prevent operations. If other companies are playing dirty that warrants concerns but, for over a decade it’s just been them, leading. If their idea is protected, why not just license it or eventually buy out the competition? What’s the real issue?
Coinbase was one of the first major crypto currency portals in the US. Officially starting in 2012 and regulated in 2015, and licensed in 2017.
Read – https://www.moneylaunderingnews.com/2017/02/coinbase-latest-obtain-new-york-bitlicense/
Before Crypto went all Disney cartoon, it was pretty creepy. If you remember season 2 of Mr Robot with the secret website, or when Olivia Pope was for sell in season 4 of Scandal, yeah it was those levels of creepy. So regulation has to be used but, it’s underworld start might be the real reason for the legal baggage coming if fully federalized.
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