Coinbase CEO: Will Not Allow the GENIUS Act to Be Amended—This Is Coinbase's Red Line Coinbase CEO Brian Armstrong posted that banks are lobbying the U.S. Congress to amend the GENIUS Act. Coinbase will never allow anyone to modify this act—this is Coinbase's red line—and will continue to protect the interests of its customers and the cryptocurrency industry. Brian Armstrong added that, in his personal prediction, banks will change their stance in a few years once they realize the massive business opportunities brought by stablecoins. They will then lobby Congress to allow stablecoins to pay interest and returns. Therefore, what they are doing now is completely futile (and also unethical). The dilemma for innovators remains. It is reported that the current GENIUS Act requires stablecoin issuers not to offer stablecoin rewards. However, intermediary platforms like Gemini, Coinbase, and Kraken can, and they are already included in the existing act. If traditional bankers amend the act to prohibit such behavior, it will hinder stablecoin innovation.