Coinbase Advocates for Balanced GENIUS Act Regulations to Foster Crypto Innovation
Coinbase has urged the U.S. Treasury Department to align the GENIUS Act regulations with congressional intent, emphasizing that overregulation could hinder innovation and America's leadership in the crypto sector. The exchange highlighted the need for exemptions for non-financial software, blockchain validators, and open-source protocols to ensure a conducive environment for growth. This move underscores Coinbase's commitment to fostering a regulatory framework that supports technological advancement while adhering to legislative goals.
Coinbase Urges U.S. Treasury to Align GENIUS Act Rules with Congressional Intent
Coinbase has called on the U.S. Treasury Department to ensure that regulations under the GENIUS Act remain faithful to congressional intent. The exchange warned that overreach could stifle innovation and undermine America's ambition to lead in crypto development.
The company specifically requested exemptions for non-financial software, blockchain validators, and open-source protocols. It also clarified that interest-payment prohibitions should apply solely to stablecoin issuers, not intermediaries or trading platforms.
Faryar Shirzad, Coinbase's Chief Policy Officer, emphasized the need for regulatory precision. "Rules must maintain U.S. competitiveness in stablecoins," he stated, urging against unwarranted restrictions absent from the statute's text.
Coinbase Faces Banking Pushback as AI Crypto Project Gains Traction
The Independent Community Bankers of America is challenging Coinbase's bid for a National Trust Company Charter, citing misalignment with traditional banking frameworks. Regulatory friction highlights the growing tension between legacy finance and crypto innovation.
Meanwhile, DeepSnitch AI's presale has surged past $495,000, offering early investors 42% gains. The project's AI-powered toolkit for on-chain analysis taps into growing demand for risk mitigation tools in volatile markets.
Bitwise Files for Spot Dogecoin ETF, Streamlining Regulatory Approval
Bitwise Asset Management has taken a decisive step toward mainstreaming meme coin investments with its 8(a) filing for a Spot Dogecoin ETF. The submission triggers an automatic approval mechanism, allowing the fund to list on U.S. exchanges within 20 days barring SEC intervention. This bypasses traditional lengthy review processes, underscoring institutional demand for regulated crypto vehicles.
Coinbase Custody will serve as the trusted custodian for the ETF, offering investors secure exposure to Dogecoin's volatility without direct asset management complexities. The filing reflects growing recognition of meme coins as legitimate investment assets, following Bitwise's established track record in crypto index products.
Coinbase Europe Fined €21.5 Million for AML Compliance Failures
The Central Bank of Ireland has imposed a €21.5 million penalty on Coinbase Europe Limited for systemic anti-money laundering failures. Between April 2021 and March 2025, the exchange failed to properly monitor 31% of its transaction volume—30 million transactions worth €176 billion—due to coding errors in its surveillance systems.
Regulators discovered 2,700 delayed suspicious activity reports during their investigation. Coinbase cooperated with authorities, implementing corrective measures that reduced the fine from an initial €30.7 million. The settlement highlights growing regulatory scrutiny of crypto exchanges' compliance infrastructure as digital asset adoption accelerates.
Coinbase Fined €21.5M in Ireland for Transaction-Monitoring Lapses
Coinbase, a leading global cryptocurrency exchange, has been slapped with a €21.5 million fine by the Central Bank of Ireland. The penalty stems from systemic failures in monitoring over 30 million transactions between 2021 and 2022, totaling more than €176 billion. These lapses allowed potentially illicit activities—including money laundering and drug trafficking—to slip through undetected.
The fine was negotiated down from an initial €30.7 million after Coinbase agreed to settle. Internal audits revealed three critical coding errors in the exchange's transaction-screening software, which failed to flag high-risk behavior. One glaring flaw involved the system's inability to process wallet addresses containing special characters, creating a significant compliance gap.
While Coinbase claims to have rectified the issues within weeks, the oversight underscores the growing regulatory scrutiny facing crypto exchanges. The settlement highlights the delicate balance between innovation and compliance in digital asset markets.
Bitcoin and Stock Markets Fall as Fed Maintains Hawkish Stance
Bitcoin dropped 3% in 24 hours, hovering just above $100,000 as broader markets reacted to the Federal Reserve's unwavering stance on interest rates. The Nasdaq Composite fell 2%, while the S&P 500 slid 1.2%, reflecting synchronized declines across traditional and crypto markets.
Crypto-related equities bore the brunt of the selloff. MicroStrategy plunged 5.9%, now down 56% from its post-election peak. Exchange stocks suffered steep losses—Coinbase dropped 5.6%, Robinhood tumbled 8.5%, and mining firms saw declines exceeding 8%.
The market downturn follows Chair Powell's dismissal of near-term rate cuts despite softening economic indicators. Critical data delays from the government shutdown have further clouded the outlook, removing billions from circulation and exacerbating volatility.
