Coinbase CEO Brian Armstrong Withdraws Support For Senate Crypto Bill Calling It Worse Than Status Quo
Brian Armstrong said Coinbase can no longer support the U.S. Senate’s crypto market structure bill as currently drafted, a move revealing growing fractures between lawmakers and the cryptocurrency industry over how digital assets should be regulated.
Armstrong said the company reviewed the Senate Banking Committee draft over the past 48 hours and concluded that the bill would be “materially worse than the status quo.”
While acknowledging the bipartisan effort behind the legislation, he said Coinbase would rather see no bill passed than support a framework it believes would damage innovation and competition in the U.S. crypto sector.
Concerns Over Tokenization, DeFi And Stablecoins
In a statement on X, Armstrong outlined several…
