The GENIUS Act's passage could revolutionize Coinbase and the stablecoin market, but hurdles remain. Get the inside scoop on what it means for crypto.

Coinbase, Stablecoins, and the Senate Bill: A New York Minute on Crypto's Future

Hold onto your hats, crypto enthusiasts! The whirlwind surrounding Coinbase, stablecoins, and the Senate's GENIUS Act is enough to make your head spin faster than a Bitcoin halving. Here's the lowdown.

The GENIUS Act: A Game Changer for Coinbase?

June 18th, 2025, was a day for the history books. The Senate passed the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act with a resounding 68-30 vote. This bill is a potential goldmine for Coinbase, especially due to its partnership with Circle Internet Group and their USDC stablecoin.

The GENIUS Act lets non-banks issue stablecoins, meaning Coinbase can keep raking in that sweet, sweet USDC revenue. Last quarter alone, USDC brought in a whopping $298 million, over 15% of their total net revenue! This bill gives legitimacy to the stablecoin market, setting up a bank-like regulatory framework that could boost trust and adoption.

House Hurdles and STABLE Act Shadows

But hold your horses! The GENIUS Act still needs to pass the House, where it'll face off against the STABLE Act. While both bills allow non-banks to issue stablecoins, STABLE is less friendly to companies like Coinbase, slapping on more restrictions. The main difference? GENIUS makes it tougher for non-financial companies, like Meta, to issue stablecoins. If GENIUS wins out on this front, Coinbase could see even greater demand.

Trump's Take: