๐ Coinbase continues US policy negotiations over the CLARITY Act
According to Cointelegraph, Coinbase is actively continuing negotiations with the U.S. government regarding the Digital Asset Market CLARITY Act, despite recent public disputes and policy disagreements.
Coinbase CEO Brian Armstrong denied claims that the White House is โfuriousโ with the exchange or withdrawing support for the bill, stating that government officials have been โsuper constructiveโ and have asked Coinbase to work on a compromise with banks. [cointelegraph.com]
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Armstrong confirmed that discussions remain ongoing even after Coinbase withdrew support for the current Senate draft of the CLARITY Act due to concerns that it would severely harm DeFi, ban tokenized stock trading, and remove usersโ ability to earn stablecoin yield.
He emphasized that Coinbase prefers โno bill over a bad billโ but remains committed to negotiating improvements. [cointelegraph.com]
U.S. lawmakers have also postponed the CLARITY Actโs markup session to allow more time for industryโgovernment negotiations.
Armstrong noted he expects a revised draft within a โfew weeksโ and described the recent tension as productive, as it has exposed key issues that stakeholders must fix together. [cointelegraph.com]