Coinbase Threatens to Drop Support for US Crypto Bill Over Stablecoin Reward Limits

On 12 January 2026, Coinbase signaled it could withdraw support for a forthcoming U.S. crypto market structure bill if it imposes strict limits on stablecoin rewards for users. The exchange argues that proposals reserving rewards for licensed banks would undercut a key revenue stream tied to USDC interest and disadvantage non-bank crypto platforms. The dispute has reopened divisions in Congress and may jeopardize the broader legislation's progress.