Crypto Bill Debate Postponed After Coinbase Opposition
A U.S. Senate committee has postponed a debate on the Clarity Act, a bill aimed at establishing a regulatory framework for cryptocurrencies. The decision came hours after Coinbase CEO Brian Armstrong voiced strong opposition to the legislation, casting doubt on its future. Coinbase, a major player in the cryptocurrency exchange space, facilitates the buying, selling, and storage of digital currencies. The company has been at the forefront of advocating for clear crypto regulations for years.
The proposed bill seeks to define crypto tokens as securities, commodities, or other categories, clarifying the jurisdiction of the U.S. Securities and Exchange Commission. Armstrong criticised the bill for potentially eroding the authority of…
