Coinbase CEO Slams Crypto Infrastructure Legislation: “Can’t Support The Bill”
Coinbase (NASDAQ:COIN) CEO Brian Armstrong took to X today to slam the crypto infrastructure bill, which is scheduled for a markup hearing tomorrow at the Senate Banking Committee. Armstrong did not mince his words:
“After reviewing the Senate Banking draft text over the last 48hrs, Coinbase unfortunately can’t support the bill as written. There are too many issues, including: – A defacto ban on tokenized equities – DeFi prohibitions, giving the government unlimited access to your financial records and removing your right to privacy – Erosion of the CFTC’s authority, stifling innovation and making it subservient to the SEC – Draft amendments that would kill rewards on stablecoins, allowing banks to ban their…
