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CEX signs joint letter to defend the original intent of the "Genius Act": platforms should be allowed to continue offering stablecoin rewards
【CEX Signs Joint Letter to Defend the Original Intent of the GENIUS Act: Platforms Should Continue to Offer Stablecoin Rewards】 Cryptocurrency exchange CEX announced that it has signed a joint letter with over 125 companies and organizations, urging the U.S. Congress to defend the original text of the GENIUS Act from amendments. It is understood that legitimate stablecoin rewards benefit consumers and competition and are legally permitted under the GENIUS Act. Revisions to the bill would undermine certainty and innovation. CEX co-founder Tyler Winklevoss further explained that the current GENIUS Act prohibits stablecoin issuers from offering stablecoin rewards, but platforms like CEX, CEX, and CEX as trading intermediaries can do so, and this has been incorporated into the current law. If traditional bankers revise the bill to prohibit such activities, it will hinder stablecoin innovation.