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Coinbase CEO Pulls Support for Senate Crypto Bill

Crypto News

Cryptocurrency exchange Coinbase has withdrawn its support for the Senate Banking Committee’s draft of a market structure bill for digital assets.

“We’d rather have no bill than a bad bill,” Coinbase CEO Brian Armstrong said in a Wednesday (Jan. 14) post on X. “Hopefully we can all get to a better draft.”

The Senate Banking Committee introduced a “manager’s amendment” to the digital asset legislation late Monday (Jan. 12) ahead of a markup meeting scheduled for Thursday (Jan. 15).

The committee’s Republicans said in a Monday press release that the legislation is designed to “establish clear rules of the road for digital assets, all while protecting Main Street retail investors.”

Armstrong said in his post that…

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