The most recent news about crypto industry at Cointelegraph. Latest news about bitcoin, ethereum, blockchain, mining, cryptocurrency prices and more
Brian Armstrong posted to social media late on a Wednesday saying Coinbase couldn't “support the bill as written,“ potentially leading to a postponement in consideration.Coinbase CEO Brian Armstrong has weighed in on the future of a cryptocurrency market structure bill under consideration in the US Senate less than 24 hours after he said the exchange could not support the current version of the legislation.
for the CLARITY Act, a bill to establish digital asset market structure. Members of the US Senate Banking Committee had been“We developed this concern that if went into a markup, the only way to edit some of that base text would have been through an amendment, and amendments had already been submitted,” said the Coinbase CEO. “And so we didn’t think it was prudent to come out of committee with a bunch of these issues in the bill which would have been catastrophic for the average American consumer.”“I think we’ve got a chance to do a new draft, and hopefully get into a markup in a few weeks.” Republican lawmakers in control of the US House of Representatives and Senate initially expected the CLARITY Act to be signed into law by 2026.of the bill dealing with decentralized finance, interest on payment stablecoins and how the legislation would delegate regulation between the US Securities and Exchange Commission and Commodity Futures Trading Commission . “Inaction is unacceptable,” Cody Carbone, CEO of crypto advocacy organization The Digital Chamber, told Cointelegraph on advancement of the CLARITY Act. “We cannot afford to walk away from the table at a moment when clarity is within reach. Market structure must move forward, and the only path to longstanding policy is getting back to the negotiating table and finishing the job.”on Wednesday that the markup postponement was a “brief pause” and there were “good faith” bipartisan discussions continuing to happen. Members of the Senate are scheduled for a state work period next week, likely pushing any potential markup to at least the end of January.The Senate Agriculture Committee, the other body handling a version of the market structure bill, announced earlier this week that it would release draft legislation on Jan. 21, with a markup hearing scheduled for Jan. 27. As of the time of publication, committee Chair John Boozman had not announced any changes to this timeline.Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
TRX options launch on Deribit by Coinbase, expanding institutional access to the TRON ecosystemThe most recent news about crypto industry at Cointelegraph. Latest news about bitcoin, ethereum, blockchain, mining, cryptocurrency prices and more
Read more »
Coinbase pulls support for crypto bill: 'no bill' better than 'bad bill'The most recent news about crypto industry at Cointelegraph. Latest news about bitcoin, ethereum, blockchain, mining, cryptocurrency prices and more
Read more »
Crypto market dips as Senate postpones market-structure bill discussion after Coinbase withdrawalThe cryptocurrency market trades in the red on Thursday after the US Senate Banking Committee (SBC) postponed discussions on crypto market structure following Coinbase's withdrawal of support due to multiple issues.
Read more »
‘Worse Than Status Quo’: Coinbase CEO Rejects Senate BillThe Coinbase boss claims that no bill is ultimately better than an egregiously bad bill.
Read more »
Crypto slump hits ARK ETFs in Q4, Coinbase becomes top detractorThe most recent news about crypto industry at Cointelegraph. Latest news about bitcoin, ethereum, blockchain, mining, cryptocurrency prices and more
Read more »
Ripple CEO Breaks Silence on Coinbase DramaRipple CEO Brad Garlinghouse addressed the shockwaves caused by Coinbase CEO Brian Armstrong, who abruptly withdrew his company's support for the Digital Asset Market CLARITY Act.
Read more »