The post Coinbase Pulls Support, Delaying U.S. Crypto Market Structure Bill appeared on BitcoinEthereumNews.com.

Late draft changes pushed Coinbase to oppose the crypto bill, exposing bank influence and stalling Senate progress. Coinbase has stepped back from supporting a major U.S. crypto market structure bill, triggering a sudden pause in Senate plans to advance the legislation. The decision came after a late review raised concerns inside the company about consumer harm and weakened competition.  Even though talks are expected to resume, the move exposed deep divisions between the financial sector and lawmakers. Late Draft Triggers Coinbase Opposition to Crypto Bill Coinbase CEO Brian Armstrong explained that the company withdrew its support after discovering provisions in the draft bill that he believes would favor banks at the expense of consumers and crypto companies.  Speaking in an interview with CNBC, Armstrong said regulation should not be used as a tool for established financial institutions to shut out competition. According to Armstrong, Coinbase and other crypto firms stayed engaged in negotiations until the final stages. That position changed when lawmakers released a late-night draft of the bill earlier this week.  After reviewing the hundreds of pages, Coinbase concluded that several sections could damage users. Additionally, the broader market could be affected if the bill moved forward without changes. Armstrong noted that some provisions came as a surprise even to participants who had been closely involved in talks. Given the scale of the bill and its potential effects, he argued that moving ahead without revisions would have been irresponsible. Coinbase then chose to publicly oppose the legislation in its current form. Market Structure Bill Faces Delay Amid Industry Opposition Shortly after Coinbase’s announcement, the Senate Banking Committee canceled a planned markup of the bill. Chairman Tim Scott confirmed the delay late Wednesday and indicated that no new date has been set. Negotiations had already been fragile, and Coinbase’s withdrawal…

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Filed under: News - @ January 17, 2026 10:18 pm