In brief
- Coinbase’s last-minute pullback forced the Senate to delay a key vote on its crypto market structure bill.
- The fight centers on stablecoin yield limits, with Coinbase balking as bank-backed amendments gained traction.
- Industry unity is fracturing, leaving the bill’s path forward—and chances of passage—uncertain.
Less than a day after Coinbase dramatically pulled support for the Senate’s crypto market structure bill, derailing a vote that would have sent the legislation to the Senate floor, the crypto industry is reeling—and wondering whether their coveted legislation now stands any chance of passage.
Coinbase CEO Brian Armstrong announced on Wednesday his company would no longer support the bill as written, less than…
Jan 15 2026
