$BTC
🚨 Crypto Regulation Update – U.S. 🇺🇸
Coinbase CEO Brian Armstrong says the company cannot support the current draft of the U.S. crypto regulatory bill.
🔹 The bill aims to define when crypto tokens are securities or commodities
🔹 It would shift spot crypto market oversight to the CFTC
🔹 Coinbase warns it has “too many issues”, including:
• A de-facto ban on tokenized equities
• Weakening of CFTC authority
• Proposals that could kill stablecoin rewards
⚠️ The draft also prohibits interest payments on stablecoins, though limited rewards for activity (payments, loyalty programs) are still allowed.
💬 Armstrong’s stance:
“We’d rather have no bill than a bad bill.”
📅 Senate Banking Committee markup is scheduled for Thursday, 10 a.m. ET — amendments may still change the outcome.
📊 Why it matters:
Regulation clarity is critical, but poorly designed rules could slow innovation and adoption across the crypto ecosystem.
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