Morning Minute: Coinbase Withdraws Support of Clarity Act, Markup Delayed
The post Morning Minute: Coinbase Withdraws Support of Clarity Act, Markup Delayed appeared on BitcoinEthereumNews.com.
Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt. Subscribe to the Morning Minute on Substack. GM! Today’s top news: Crypto majors are green again with Bitcoin at $96,750 Bitcoin ETFs see $1.54B in net inflows over past 2 sessions, most in months Coinbase withdraws support from Clarity Act draft, markup delayed FUN and FOGO both TGE today along with airdrops for users Myriad announced partnerships with WLFI and MoonPay for USD1 markets and a new in-app wallet 🏛️ Coinbase Breaks With Washington Over the Clarity Act And now the future of the bill is in question. 📌 What Happened Coinbase publicly withdrew its support for the Senate’s crypto market structure legislation (the Clarity Act), just days before a key vote. In a tweet, Coinbase CEO Brian Armstrong said the company “can’t support the bill as written,” arguing the updated version would leave the industry worse off than the status quo. Armstrong outlined several core objections: A de facto ban on tokenized equities DeFi prohibitions that would give the government broad access to user financial data and erode privacy An erosion of the CFTC’s authority, effectively strengthening the SEC’s hand and stifling innovation Draft amendments that would eliminate rewards on stablecoins, allowing banks to block competition from crypto-native payment rails Coinbase emphasized that while it appreciates the bipartisan effort behind the bill, this version “would be materially worse than the current status quo.” Notably, the Senate Banking Committee delayed the vote in the late hours of the evening following Coinbase’s withdrawal. 🗣️ What They’re Saying “It probably speaks to the size and influence of Coinbase on Capitol Hill that I’m hearing rumblings the markup could be pulled tomorrow after CEO Brian Armstrong announced he was withdrawing the company’s…
Filed under: News - @ January 15, 2026 9:21 pm