US Senator Hints Crypto Market Structure Bill May Be Delayed
Cointelegraph
Senator Lummis expects a delay in the Senate markup for the crypto market structure bill following Coinbase's withdrawal of support.Summary
US Senator Cynthia Lummis indicated that the Senate Banking Committee's hearing on crypto market structure legislation, specifically the CLARITY Act, is likely to be delayed. This expectation follows Coinbase's decision to withdraw its support for the bill, citing that the latest text was unfavorable to the industry. Coinbase CEO Brian Armstrong specifically objected to the removal of stablecoin rewards, restrictions on tokenized stocks, broad government access to financial records, and reduced authority for the US commodities regulator. Lummis stated that her recommendation is for the markup to be pulled for now, though the final decision rests with Banking Chair Tim Scott.
(Source：Cointelegraph)