Coinbase CEO Brian Armstrong has advocated changes to US legislation that would allow stablecoin holders to earn onchain interests.
In a post published March 31 on X, Armstrong suggested that cryptocurrency companies should be treated like banks and encouraged to share interests with consumers, aligning with a free-market approach.
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Currently, two federal stablecoin bills are moving forward in the US legislative process: the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act, and the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act.
In relation to these bills, Armstrong highlighted the opportunity for the US to "level the playing field" by allowing regulated stablecoins to offer interest to consumers, similar to traditional checking or savings accounts.