Coinbase Celebrates Trump’s GENIUS Act as Catalyst for Financial Revolution

President Donald Trump's signing of the GENIUS Act has been hailed by Coinbase CEO Brian Armstrong as a transformative moment for the cryptocurrency industry. The legislation introduces a regulatory framework for stablecoins, which are digital assets pegged to stable currencies like the U.S. dollar. Armstrong emphasized that this move could modernize global payments and accelerate the adoption of cryptocurrencies. The GENIUS Act is seen as a pivotal step in legitimizing and integrating digital assets into the mainstream financial system, potentially sparking a new era of financial innovation and inclusion.

Coinbase CEO: Trump’s GENIUS Act Launches New ‘Financial Revolution’

President Donald TRUMP has signed the GENIUS Act into law, marking a pivotal moment for the cryptocurrency industry. Coinbase CEO Brian Armstrong heralded the move as the dawn of a financial revolution, emphasizing its potential to modernize global payments. The legislation provides a regulatory framework for stablecoins, digital assets pegged to stable currencies like the U.S. dollar, paving the way for broader adoption.

Armstrong, speaking from the White House lawn, underscored the law's capacity to replace outdated financial systems with faster, cheaper, and more accessible alternatives. The GENIUS Act is the first federal crypto bill to be enacted, with the industry now shifting focus to the Clarity Act for comprehensive cryptocurrency regulation.

Coinbase CLO Criticizes States for Ignoring Staking Law in CLARITY Act

Coinbase Chief Legal Officer Paul Grewal has publicly rebuked state regulators for disregarding federal crypto staking guidelines established under the CLARITY Act. The legislation explicitly excludes staking-as-a-service from securities classification, yet enforcement actions persist across five states.

California, New Jersey, Washington, Maryland, and Wisconsin continue targeting Coinbase's staking services, creating regulatory fragmentation. This contradiction highlights the growing divide between state-level enforcement and congressional intent, with lawmakers from these jurisdictions having originally supported the federal legislation.

The exchange is now advocating for standardized federal oversight to replace the current patchwork of state regulations. This regulatory standoff emerges as the crypto industry seeks clarity on staking services, which have become integral to proof-of-stake blockchain networks.