Coinbase CEO Brian Armstrong opposes the current Senate Banking Committee crypto bill, citing concerns that it would grant excessive power to the SEC and restrict decentralized finance (DeFi) and stablecoin yield products. The bill aims to clarify regulatory oversight between the SEC and CFTC but includes provisions that could ban tokenized equities and hinder competition from crypto yield products. Senate discussions may be delayed as lawmakers reconsider the impact of the legislation on the crypto industry.

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