Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
Today in crypto, Coinbase insisted in a submission to the US Treasury that it cannot override Congress’s intent on the GENIUS Act despite the banking lobby continuing to press for a blanket ban on stablecoin interest, Robinhood’s Q3 crypto revenue rises 300%, and Galaxy cuts its 2025 Bitcoin price forecast to $120,000 from $185,000, citing changing market conditions.
The US Department of the Treasury is facing conflicting feedback from crypto companies and traditional banking groups over how to implement the GENIUS Act, the law that regulates stablecoin payments in the US.
In a letter on Tuesday, Coinbase urged the Treasury to limit a ban on stablecoin interest payments exclusively to stablecoin issuers, while allowing it for non-issuers, such as crypto exchanges. Coinbase said its proposal aligns with Congress’s intent when passing the legislation.
