Coinbase Executives Call Crypto Bills ‘Oil for the Onchain Economy’
TLDR
- Coinbase executives urged US lawmakers to treat the GENIUS and CLARITY crypto bills as connected parts of one framework.
- Shan Aggarwal described both crypto bills as essential “oil for the onchain economy.”
- The GENIUS Act established a foundation for stablecoin growth and market liquidity.
- Aggarwal said growing stablecoin supply will enable capital to move into tokenized assets.
- Scott Meadows stated that the two crypto bills together create clear rules for institutions.
Coinbase executives urged US lawmakers to view the GENIUS stablecoin bill and the CLARITY market structure bill as linked. They argued both crypto bills are essential to building a transparent and functional onchain economy. Their comments came as Congress continued discussions on broader crypto regulation in Washington.
GENIUS stablecoin bill sets foundation
Coinbase Chief Business Officer Shan Aggarwal said the GENIUS Act established a base for stablecoin expansion in the United States. He described the legislation as “effectively like oil for the onchain economy.” He emphasized that it enables stablecoin supply growth and increased capital flow into tokenized assets.
Aggarwal explained that stablecoins could fund new onchain instruments through the CLARITY bill.
He added that these funds could move into tokenized money markets and treasuries.
He noted that this connection between the two crypto bills would encourage broader onchain participation. As he put it, “It really gets the whole ecosystem flowing in a very positive way.” Coinbase expects this framework to enhance liquidity and create stability in digital markets.
Market structure and institutional clarity
Scott Meadows, Coinbase’s interim head of business development, said the GENIUS Act improved institutional understanding of crypto compliance. “GENIUS has started to unlock a tremendous amount of new enthusiasm and institutional interest,” he told Cointelegraph. He said the clear rules made businesses more confident about participating in the digital economy.
Meadows added that combining the two crypto bills would create stronger market foundations.
He explained this joint framework would form clear rules for institutions and marketplaces to develop responsibly.
The company believes that the CLARITY bill complements the GENIUS Act. Together, they could support a regulated environment for digital assets in the US. Coinbase continues to advocate for both crypto bills as essential steps toward sustainable regulation.
Brian Armstrong Meets Lawmakers on Crypto Bills
Coinbase also submitted a letter to the US Treasury regarding the GENIUS Act’s implementation. The company requested that the government restrict a ban on stablecoin interest payments only to issuers. It asked to allow exchanges to offer such payments to users within regulatory limits.
Policymakers are still reviewing GENIUS recommendations and related crypto bills. However, progress on the market structure bill has slowed due to government disputes. Lawmakers continue to discuss whether they can pass the framework before 2026.
Coinbase CEO Brian Armstrong recently visited Washington, D.C., to discuss crypto bills with legislators. He said there was broad consensus on about 90% of the framework. His visit underscored Coinbase’s efforts to promote legislative clarity for the growing onchain economy.
The post Coinbase Executives Call Crypto Bills ‘Oil for the Onchain Economy’ appeared first on Blockonomi.
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