Coinbase Pulls Support for CLARITY Act After Senate Rewrite

Coinbase CEO Brian Armstrong said late Tuesday that the company can no longer support the US Senate’s version of the crypto market structure bill after lawmakers introduced sweeping changes to the CLARITY Act. He said the Senate Banking Committee’s draft “breaks key parts of market structure” and creates risks for tokenized equities, DeFi, stablecoins, and open crypto markets. The CLARITY Act Just Changed Coinbase withdrew its backing just hours before the Senate was due to move the bill toward committee markup. At the same time, Capitol Hill sources are circulating unconfirmed reports that the markup scheduled for tomorrow could be pulled following Coinbase’s move source: https://beincrypto.com/coinbase-pulls-support-clarity-act-senate-rewrite/