Coinbase CEO Opposes Current Cryptocurrency Bill Draft

2 mins mins

Key Points:

Coinbase CEO Brian Armstrong opposes U.S. cryptocurrency bill draft.
He cites privacy concerns and regulatory challenges.
The industry remains divided over the draft legislation.

Coinbase CEO Brian Armstrong announced the company’s opposition to a proposed cryptocurrency bill ahead of the Senate Banking Committee’s upcoming hearing and vote on the legislation.

Armstrong’s stance highlights concerns over privacy, DeFi regulations, and industry innovation, impacting the U.S. crypto market and future legislative action.

Coinbase Challenges Proposed Crypto Legislation

Armstrong criticized the current draft of the cryptocurrency legislation ahead of the Senate Banking Committee’s scheduled morning vote. He argued the draft is worse than the existing regulations, preferring no legislation over what he considers a “bad bill”.

The bill seeks to establish clear boundaries for the CFTC and SEC roles in crypto oversight. Armstrong singled out issues with DeFi, stablecoin yields, and potential privacy invasions. He also expressed concerns over the bill weakening CFTC’s position relative to the SEC.

Brian Armstrong, CEO of Coinbase, – “We’d rather have no bill than a bad bill.”

Coinbase’s opposition has drawn significant attention. Some industry voices, like Digital Chamber of Commerce CEO Cody Carbone, support advancing the bill with amendments. Others, including Ripple’s Brad Garlinghouse, are optimistic about resolving differences.

Stablecoin Market Impact and Potential Amendments

Did you know? Coinbase’s public dissent against previous legislation has impacted final drafting phases, acting as a critical voice in shaping the regulatory environment for digital assets in the U.S.

USDC, currently priced at $1.00 according to CoinMarketCap, maintains a market cap of $75.75 billion, with a 24-hour trading volume of $20.17 billion, reflecting an 8.87% change. Minor short-term price shifts occurred, with a 0.03% 24-hour increase, while long-term changes remain minimal. Data updated at 00:27 UTC, January 15, 2026.

usdc-daily-chart-389 — USDC(USDC), daily chart, screenshot on CoinMarketCap at 00:27 UTC on January 15, 2026. *Source: CoinMarketCap*

The Coincu research team projects that the regulatory uncertainties from this bill could influence stablecoins’ market presence in the long term. However, potential amendments might iron out divisive points, fostering a more industry-aligned legislative framework.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.