White House Signals Potential Withdrawal Of Support For Crypto Legislation Amid Coinbase Standoff
The Trump administration has indicated it might abandon its backing of a pivotal crypto market structure bill unless Coinbase resumes negotiations. This development stems from Coinbase’s abrupt decision to withhold support for the proposed legislation, which has sparked tensions between the White House, the crypto exchange, and traditional banking interests.
The bill, known as the CLARITY Act, aims to establish a comprehensive framework for digital asset markets in the United States.
It seeks to clarify regulatory oversight between agencies like the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC), while addressing issues such as stablecoin operations and decentralized finance (DeFi)…
