Coinbase has pulled its support for the current version of the market-structure bill ahead of a Senate Banking Committee markup on Thursday. The move marks the exchange’s stance as lawmakers review evolving rules that could affect crypto firms.
The development highlights continued regulatory scrutiny shaping the crypto market. The bill aims to restructure crypto markets and could affect exchanges, wallets, and trading platforms. Coinbase’s reversal follows ongoing debates about compliance obligations and supervisory oversight.
Industry observers say the withdrawal signals intensified tensions between policymakers and industry players as the markup nears. Analysts will watch how the committee balances market-structure goals with investor protections and regulatory clarity.
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