Brian Armstrong points to banking trade groups as obstructing market structure legislation, while some banks pursue crypto adoption and blockchain hiring opportunities.
Coinbase CEO Brian Armstrong said banking trade groups, rather than individual banks, are mainly responsible for halting negotiations on U.S. crypto market structure legislation. Speaking at the World Liberty Forum in Palm Beach, Armstrong criticized the groups for a zero-sum mindset and opposition to stablecoin rewards. The stalled talks follow the collapse of the Digital Asset Market Clarity Act last month. Armstrong noted major banks are engaging in crypto, with Coinbase supporting infrastructure for five of the largest global banks and others hiring blockchain specialists. He expects eventual compromises that could offer new benefits for banks.