Coinbase CEO Brian Armstrong Rejects U.S. Crypto Bill Draft Ahead of Senate Banking Vote

Coinbase CEO Brian Armstrong has publicly opposed the current draft of a U.S. cryptocurrency bill scheduled for a vote by the Senate Banking Committee, arguing it is worse than the existing regulatory framework. He raised concerns over privacy, DeFi oversight, stablecoin yields and the balance of authority between the CFTC and SEC, while USDC trades at $1.00 with a $75.75 billion market cap and $20.17 billion in 24-hour volume. The broader crypto industry remains split, with some stakeholders favoring further amendments to address divisive provisions.