Coinbase CEO Brian Armstrong pulls support for crypto bill on eve of Senate vote – DL News
- Coinbase CEO Brian Armstrong said his company would not support newly-filed crypto market structure legislation in the Senate.
- He cited the power it gives the SEC as well as a “defacto ban on tokenised equities,” among other things.
- The bill is scheduled for a committee vote on Thursday.
Coinbase CEO Brian Armstrong said his company would not support the latest version of crypto market structure legislation in the US Senate, saying it gave too much power to the Securities and Exchange Commission.
Other issues Armstrong cited include the bill’s “defacto ban on tokenised equities,” “DeFi prohibitions,” and proposed amendments that would further restrict companies’ ability to pay “rewards” on users’ stablecoin holdings.
