Crypto lobby flexes as Senate delays landmark regulation bill after Armstrong pushback
TL;DR
Senate Banking Chair Tim Scott postponed the markup of a sweeping digital asset bill after Coinbase CEO Brian Armstrong publicly opposed revisions, signaling crypto industry leverage on Capitol Hill as donors backed pro-crypto candidates. Armstrong framed the plan as eroding CFTC authority and potentially cracking down on stablecoins, while Scott remains hopeful for a bipartisan path. The post also notes Sen. Bill Cassidy’s fundraising haul ahead of reelection.
- Capitol agenda: A crypto titan flexes in the Senate Politico
- Tim Scott postpones Senate Banking crypto vote Politico
- Coinbase and the Crypto Revolt Against a Crypto Bill The New York Times
- Scott Statement on Market Structure Markup Senate Committee on Banking, Housing, and Urban Affairs (.gov)
- US Senate Banking delays crypto bill after Coinbase CEO opposition Reuters
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