Coinbase CEO Brian Armstrong Opposes Current US Senate Crypto Bill Draft

Coinbase CEO Brian Armstrong stated on Wednesday that the exchange cannot back the latest US Senate crypto bill in its current form, arguing it would be worse than existing rules. He warned the draft could amount to a ban on tokenized equities, restrict DeFi and privacy, weaken the CFTC relative to the SEC, and curb stablecoin rewards, just as lawmakers prepare for a key Senate Banking Committee phase.