Brian Armstrong argues that banning crypto rewards would unintentionally increase Coinbase's profits but harm consumers and U.S. stablecoin competitiveness, specifically citing the ongoing CLARITY Act dispute.
Coinbase CEO Brian Armstrong stated that a proposed ban on cryptocurrency rewards, linked to the CLARITY Act, would ironically increase company profits by ending USDC yield payouts. However, Armstrong opposes the measure, arguing it harms consumers and weakens the global competitiveness of U.S.-regulated stablecoins.