Coinbase Pushes Back as US Crypto Bill Nears Senate Vote

Ben Graham · January 12

Coinbase has stepped up its lobbying in Washington as a major US crypto bill moves closer to review in the Senate. The company’s stock, COIN, remained steady around $240 as investors tried to gauge how new rules could affect its business. All of this is happening while the US government works toward clearer oversight for crypto and better protection for everyday users.

What Is This Crypto Bill Really About?

The bill focuses on how crypto should be regulated, including who oversees it, what counts as a security, and how exchanges must treat their customers. You can think of it like setting basic ground rules so companies and users know where they stand instead of guessing.

Coinbase Steps Up Advocacy as Crypto Bill Nears Senate Review !

Coinbase is increasing pressure on US lawmakers as a major crypto market-structure bill moves toward Senate markup, citing concerns over potential limits on stablecoin rewards. The exchange may reassess its support… pic.twitter.com/EiIvxDu3u3

— CryptoDaku (@CryptoDaku_) January 12, 2026

Coinbase is paying close attention because the current draft could limit stablecoin rewards. These rewards give users a small return for holding coins like USDC, which are tied to the US dollar. For beginners, it feels similar to earning a little interest on cash sitting in a bank account.

If lawmakers only require clear disclosures, Coinbase is fine with that. If they tighten the rules further, the company may pull its support, which shows how serious the issue is for them.

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Why Stablecoin Rewards Matter to Regular Users

Stablecoins are meant to behave like digital dollars, without big price swings. Rewards give people a reason to hold them and use them, rather than just leaving them idle. This debate builds on earlier laws such as the GENIUS Act, which introduced the first federal rules for stablecoins.

Now, lawmakers want to go further, and AP News reports that Congress is trying to protect consumers without making stablecoins harder to use day to day. For users, this will determine whether stablecoins remain practical for simple saving and payments or become something people ignore.

Coinbase Draws a Line in the Sand

Coinbase CEO Brian Armstrong has argued for years that the industry needs clear rules before companies can build long-term products with confidence.

The House has already passed the CLARITY Act, which groups crypto projects based on how decentralized they are. The Senate version may give more authority to the CFTC instead of the SEC, which would make compliance easier for exchanges.

If Coinbase pulls back from the talks, lawmakers lose one of the biggest voices from the industry, and progress could slow.

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What Could Go Wrong for Investors?

More rules can add safety, but they can also push certain features to overseas platforms that operate with less oversight. That creates extra risk for beginners who depend on US exchanges for basic protections. Losing stablecoin rewards would also remove one of the simpler ways people ease into crypto.

Nothing here calls for quick decisions, but it does help to stay aware of how the rules are developing. Senate committees are expected to return to the bill in early 2026. Each update will adjust how much freedom exchanges have and how much control regulators take. If stablecoin rewards remain, everyday crypto stays familiar. If they disappear, users should expect fewer benefits and more paperwork.

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