Coinbase derails crypto regulation with last-minute CLARITY Act reversal
TL;DR Summary
Coinbase withdrew its support for the Senate CLARITY Act at the last minute, triggering industry backlash as peers urged the bill’s negotiation. The act would define what counts as securities vs. commodities and establish regulatory duties for firms, but with a tight election timetable and ongoing lobbying, its passage remains uncertain and could shape U.S. crypto regulation for years.
- Why Coinbase derailed the crypto industry’s political future The Verge
- US Senate committee delays crypto bill after opposition from Coinbase CEO Reuters
- Scott Statement on Market Structure Markup Senate Committee on Banking, Housing, and Urban Affairs (.gov)
- Coinbase and the Crypto Revolt Against a Crypto Bill The New York Times
- Stablecoin yield fight threatens to sink CLARITY Act as Coinbase and White House clash The Block
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