Coinbase Chief Policy Officer Responds to "White House Agreement Goals Falling Short": Has Made Multiple Concessions on Stablecoin Yield Issues

Deep Tide TechFlow News, February 28 — Coinbase Chief Policy Officer Faryar Shirzad posted on X in response to the “White House reaching or missing the agreement goal,” stating that Coinbase and CEO Brian Armstrong have been involved in negotiations for months and have committed to several potential compromise proposals. Coinbase’s core goal has always been to protect the GENIUS Act and the interests of ordinary Americans. He also thanked Patrick Witt, Executive Director of the President’s Digital Asset Advisory Committee, for his efforts in promoting the resolution of the issue, and looks forward to the successful implementation of the President’s crypto agenda.

According to senior reporter Sander Lutz of crypto media Decrypt, the White House initially hoped to reach an agreement on stablecoin yield issues by the end of this week. However, a banking industry source directly involved in the negotiations said that goal “will not be achieved.” Currently, the crypto industry and banking lobbying groups still have significant disagreements over whether stablecoins should generate yields. This dispute has become a major obstacle to advancing the Crypto Market Structure Bill and directly opposes Coinbase CEO’s stance that stablecoins should be able to generate yields for users.