Senate Banking Committee Postpones Crypto Bill Markup After Coinbase Withdraws Support

TLDR: Coinbase withdrew support for the 278-page crypto bill citing concerns over tokenized equities bans and DeFi restrictions. Major firms including Kraken, Circle, and Ripple, reaffirmed their commitment to the legislative process despite challenges. The bill’s amendments allegedly favor traditional banks through stablecoin yield restrictions and tokenization provisions. Chairman Tim Scott postponed the markup but [...]

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