Banking trade groups responsible for impasse on market structure bill, Brian Armstrong says
CoinDesk
Coinbase CEO Brian Armstrong blames banking trade groups, not individual banks, for stalling crypto market structure legislation.Summary
Coinbase CEO Brian Armstrong stated that banking trade groups, adopting a zero-sum mindset, are primarily responsible for the impasse in negotiations over crypto market structure legislation, believing that crypto's success must come at the expense of banks. Individual banks, conversely, view crypto as an opportunity, with Coinbase supporting infrastructure for five of the world's largest banks. The banking industry's main sticking point in recent White House meetings has been demands to block stablecoin rewards. Armstrong anticipates a compromise in a new draft bill that might offer banks other benefits, suggesting that major banks are already embracing crypto infrastructure.
(Source：CoinDesk)