Coinbase Dumps Senate Crypto Bill – Now What? 🚀💥

Coinbase withdraws support for Senate’s crypto bill, leading to a delayed vote as key issues with the draft are raised.

The U.S. Senate Banking Committee has postponed its vote on the crypto market structure bill. Because nothing says “regulation” like a bunch of politicians trying to figure out what a blockchain is. 🤷‍♂️

This comes after Coinbase CEO Brian Armstrong announced that the company could not support the bill in its current form. Because apparently, the Senate’s idea of “regulation” is a 100-page document written in hieroglyphics. 📜

The bill, which aimed to regulate the crypto market, now faces significant changes before it can be approved. Because nothing says “innovation” like a 12-step process for a 10-year-old idea. 🕒

Coinbase Pulls Support for Senate Crypto Bill

On January 14, 2026, Coinbase CEO Brian Armstrong stated that the company would not support the Senate’s crypto bill. Because who needs a bill when you can have a 401(k) of confusion? 💸

Armstrong highlighted key issues with the bill, specifically a “de facto ban on tokenized equities.” Because nothing says “free market” like a law that’s basically a “nope” button for innovation. 🚫

He argued that the bill could severely limit the use of blockchain technology for tokenizing real-world assets like stocks, potentially stalling innovation in the industry. Because who needs progress when you can have a 1990s-style bureaucracy? 🕰️

BREAKING: 🇺🇲 Senate Banking Committee has cancelled today’s voting on the crypto market structure bill after the Coinbase CEO withdraws support.

– Bull Theory (@BullTheoryio)

Another major concern was the proposed regulation of decentralized finance (DeFi). The bill would give the government access to users’ financial records, which could undermine the privacy of DeFi platforms. Because nothing says “trust” like a government that’s never had a data breach. 🔐

Armstrong noted that this move would harm user privacy, a core principle of decentralized finance. Because privacy is just a myth, right? 🤡

Additionally, Armstrong criticized the bill’s impact on the Commodity Futures Trading Commission (CFTC). He argued that the bill would reduce the CFTC’s authority and increase the SEC’s role. Because nothing says “efficiency” like a government agency with more initials than a spy. 🕵️‍♂️

Senate Postpones Vote on Controversial Crypto Bill

In light of Coinbase’s announcement, the Senate Banking Committee decided to delay the markup of the crypto bill. Because the Senate is like a toddler with a spreadsheet: “I’m not mad, I’m just… rethinking.” 🧸

The bill, which was meant to provide a framework for regulating tokenized assets and DeFi platforms, now faces a reset. Because the only thing more chaotic than crypto is the Senate’s attempt to regulate it. 🌪️

Lawmakers will need to address the issues raised by Coinbase and other industry players before moving forward. Because the only thing worse than a bad bill is a bill that’s been “improved” by the Senate. 🚧

🚨 BREAKING: SENATE BANKING COMMITTEE CANCELS CRYPTO MARKET STRUCTURE MARKUP 🚨

The US Senate Committee on Banking, Housing, and Urban Affairs has canceled the scheduled markup of the long-anticipated crypto market structure bill this week.

This comes amid major pushback from…

– CryptosRus (@CryptosR_Us)

This delay has cast uncertainty over the timing of the bill’s passage. Because the Senate’s timeline is as reliable as a Wi-Fi signal in a cave. 🏔️

Without a clear path forward, the crypto community and lawmakers are left to reconsider key provisions. Because nothing says “collaboration” like a bunch of politicians and a CEO arguing over a document they all barely understand. 🤝

The Senate now faces the challenge of finding a compromise that balances regulation with innovation in the fast-evolving crypto space. Because the Senate’s idea of “balance” is a seesaw with one side missing. 🪜

As a result, the committee is expected to review the bill more thoroughly and work on revisions. Because the only thing the Senate loves more than a good delay is a good “revisit.” 🔄

The delay gives both regulators and industry players a chance to reach a more agreeable version. Because the Senate’s version of “agreeable” is a 50-page document with 100% more jargon. 📚

However, it is unclear how long this process will take or what changes will be made to the current draft. Because the Senate’s timeline is a mystery, like a box of chocolates… but with more bureaucracy. 🍫

Related Reading: Coinbase May Rethink Backing Crypto Bill, Bloomberg Reports

Industry Pushback Prompts Bill Revisions

The delay in the Senate Banking Committee’s vote reflects strong pushback from the crypto industry. Because the crypto industry is just a bunch of people who love their privacy and their memes. 🧠

Coinbase’s withdrawal of support is part of a broader effort to ensure that crypto regulations allow for innovation. Because the only thing worse than a bad law is a law that’s too scared to let innovation breathe. 🌱

Industry players argue that the current bill could hinder the growth of the market rather than support it. Because the Senate’s idea of “support” is a 200-page document with no actual support. 📖

With concerns over privacy and regulatory authority, the crypto community is pushing for a more balanced approach. Because balance is just a fancy word for “not getting sued by everyone.” 🧘‍♀️

Many believe that the bill needs to address consumer protection without stifling the growth of decentralized systems. Because the Senate’s idea of “consumer protection” is a 100-page warning label. 🚨

This ongoing debate will likely shape future crypto regulations in the United States. Because the Senate’s idea of “shape” is a 10-year process with no end in sight. 🕰️

As the Senate works to address these concerns, it is clear that the bill needs revisions. Because the Senate’s idea of “revisions” is a 100-page rewrite with no actual changes. 📝

The goal will be to create a regulatory framework that supports innovation while also protecting investors. Because the Senate’s idea of “protecting investors” is a 50-page document with no actual protections. 🛡️

The crypto industry will continue to monitor the situation closely as lawmakers work toward a more suitable bill. Because the crypto industry is just a bunch of people who love their privacy and their memes. 🧠

2026-01-15 15:34

Coinbase Pulls Support for Senate Crypto Bill

Senate Postpones Vote on Controversial Crypto Bill

Industry Pushback Prompts Bill Revisions

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