Coinbase CEO Expects Market Structure Bill Markup ‘in a Few Weeks‘

Coinbase CEO Brian Armstrong stated he expects the markup for the cryptocurrency market structure bill, the CLARITY Act, to happen in a few weeks. This follows Coinbase pulling its support for the current version of the bill, which caused the postponement of a scheduled Senate Banking Committee markup. Armstrong explained that the concern was that proceeding with amendments during the markup would have resulted in a bill with catastrophic issues for consumers. He hopes a new draft can be created. Industry leaders and experts have raised concerns about provisions related to decentralized finance and regulatory delegation between the SEC and CFTC. Despite the pause, Senator Tim Scott called it a "brief pause" with ongoing bipartisan discussions, though the Senate's work schedule suggests a markup might not happen until late January at the earliest. Meanwhile, the Senate Agriculture Committee plans to proceed with its version of the bill timeline.

(Source：Cointelegraph)