Coinbase is lobbying Congress to delay passing stablecoin legislation as a standalone bill, which is nearing a vote. The company is concerned that if stablecoin bills pass first, Congress may not have the appetite to legislate on the more crucial market structure bill afterward. Coinbase, with support from Andreessen Horowitz, argues for combining both bills into one larger legislative package. Passing stablecoin bills would legalize a critical asset type in crypto but could undermine the push for more comprehensive market structuring vital for Coinbase's operations. This has led to tension within the crypto industry; while many companies advocate for prompt passage of stablecoin bills, Coinbase is pushing for caution due to fears of political goodwill diminishing. Over the coming weeks, a push from various crypto stakeholders aims to convince lawmakers to prioritize and pass these stablecoin bills despite Coinbase's stance, arguing that the current political capital must be utilized effectively before other issues divert Congress's attention.

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