Coinbase CEO Brian Armstrong expressed optimism that US senators are nearing a breakthrough on critical cryptocurrency market structure legislation, with about 90% of the framework already agreed upon despite the ongoing government shutdown. He highlighted that lawmakers are diligently addressing the remaining 10% of issues, primarily related to decentralized finance (DeFi), aiming to preserve innovation while ensuring centralized entities like Coinbase are appropriately regulated—not the underlying protocols. Armstrong emphasized the importance of protecting stablecoin rewards following the enactment of the GENIUS Act, which established federal standards for stablecoin reserves, transparency, and consumer protections. He criticized banking lobbyists attempting to undermine these protections, warning against their efforts to re-litigate regulations that could hinder crypto innovation and user benefits. The legislative momentum signals a promising path toward clearer, balanced crypto regulations amidst ongoing debates between policymakers, industry advocates, and traditional banking interests. For more details, read the full article here: https://cointelegraph.com/news/brian-armstrong-senate-crypto-legislation-genius-act-stablecoin