US Senate Banking Committee Cancels Market Structure Bill Meeting After Coinbase Withdrawal
Senate Democrats have resumed negotiations on the crypto market structure bill after delaying a vote, amid industry criticism and Coinbase’s refusal to support the current draft.
Summary
U.S. Senate Democrats restarted talks on the crypto market structure bill this week, engaging in calls with industry representatives after postponing the first vote. The latest draft has faced strong pushback, with Coinbase publicly stating it cannot support the bill in its current form. This follows earlier delays after Coinbase withdrew support, and ongoing disputes over key clauses. Negotiations continue involving lawmakers, industry stakeholders, and the White House on issues such as tokenization provisions and ethics requirements.
Terms & Concepts
- Tokenization: The process of representing real-world or traditional financial assets as digital tokens on a blockchain for issuance and transfer.