Crypto Bill Delay Sparks White House Pushback After Coinbase Intervention
This article first appeared on GuruFocus.
The crypto industry’s expanding influence in Washington is facing a moment of internal and external pushback, after Coinbase Global Inc. (NASDAQ:COIN) Chief Executive Officer Brian Armstrong helped delay a Senate Banking Committee markup of a broad crypto market structure bill. Armstrong’s assertion that no bill is better than a bad bill drew a rare public rebuke from White House crypto adviser Patrick Witt, who warned that a future Democratic-led version could be materially less favorable. With the markup postponed for at least several weeks, the episode is prompting debate within the industry over whether its political leverage under President Donald Trump may have been stretched too far…
