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Sophia Panel

Coinbase's Brian Armstrong challenges Wall Street on stablecoin rules, cites $6.6T

Coinbase CEO Brian Armstrong has challenged Wall Street over the Cryptocurrency Market Structure Clarity Act, arguing that limits on stablecoin yields could alter competition and shift bank funding. He highlighted the risk around $6.6 trillion in deposits and received support from Stripe CEO Patrick Collison. The debate also draws on prior proposals that allowed stablecoin issuance while blocking direct interest to users.