U.S. Crypto Regulation Stalls as Coinbase Withdraws Support

Progress on establishing a comprehensive U.S. regulatory framework for digital assets has hit a significant roadblock. The anticipated advancement of the CLARITY Act has been delayed following Coinbase’s decision to withdraw its endorsement of the Senate’s version of the legislation. This move underscores deepening divisions within the crypto industry and pushes the prospect of unified federal rules further into the future.

The immediate catalyst for the delay was the revised draft of the CLARITY Act produced by the U.S. Senate Banking Committee. This version diverged substantially from the bill previously passed by the House of Representatives. Coinbase stated it could not support the new draft, leading to the Read more...