Coinbase CEO Pushes Back on UK Stablecoin Caps as Token Profits Surge

In brief

• Coinbase CEO Brian Armstrong said Tuesday that the Bank of England’s proposed stablecoin caps would make the UK an “innovation blocker” in digital finance.
• Bloomberg Intelligence estimates Coinbase’s stablecoin revenue could grow two to sevenfold under the U.S. GENIUS Act, depending on final rulemaking.
• Armstrong last month torpedoed the CLARITY Act hours before a Senate vote, saying he would “rather have no bill than a bad bill.”