Coinbase opposes Senate crypto bill, warns of SEC overreach and DeFi bans
Crypto Briefing
Coinbase CEO Brian Armstrong opposes the Senate crypto bill, citing risks of SEC overreach and DeFi restrictions.Summary
Coinbase CEO Brian Armstrong announced the exchange's opposition to the current draft of the Senate Banking Committee crypto bill, warning that it grants excessive authority to the SEC, weakens the CFTC, and includes provisions that could effectively ban tokenized equities and restrict DeFi privacy and stablecoin rewards. Armstrong stated that Coinbase prefers no legislation over this "bad bill," which he fears could harm crypto innovation. Meanwhile, a potential delay to the scheduled hearing and vote on the bill was indicated by Senator Cynthia Lummis.
(Source：Crypto Briefing)