US crypto bill delayed after Coinbase CEO objects
The U.S. Senate Banking Committee has postponed a discussion on new cryptocurrency legislation after Coinbase CEO Brian Armstrong publicly opposed the bill.
Unveiled Monday, the proposal would define how digital assets are classified and give the Commodity Futures Trading Commission oversight of spot crypto markets. But Armstrong argued the draft contains “too many issues,” including limits on tokenized equities and changes that could eliminate stablecoin rewards, News.Az reports, citing Reuters.
Without Coinbase’s backing, the bill’s path is uncertain. The exchange has become a major political force in Washington, donating heavily to pro-crypto election campaigns and taking part…
