Coinbase CEO Addresses White House Support for Crypto Market Structure Bill
Coinbase CEO Brian Armstrong has clarified the White House's position regarding the cryptocurrency market structure bill, stating that discussions are ongoing and focusing on agreements with banks, particularly those involved in community banking solutions. Armstrong's remarks aim to dispel rumors that the White House might withdraw its support for the legislation.
This situation highlights the intricate nature of the debate surrounding the bill and its potential ramifications for stablecoin regulations and the broader cryptocurrency industry's relationship with financial institutions.
Armstrong's Opposition and the Senate's Response
Brian Armstrong has voiced concerns about a specific version of the bill presented by the Senate Banking Committee. He argued that this version could potentially undermine the authority of the Commodity Futures Trading Commission (CFTC) and negatively impact crypto-stablecoin rewards. Armstrong articulated a clear stance, stating that it is preferable to have "no bill than a bad bill," signaling Coinbase's firm position and its influence on the ongoing legislative process.
Following Armstrong's public statements, the market and legislative bodies reacted promptly. Senate Banking Committee Chairman Tim Scott announced a postponement of bill discussions, citing industry concerns. Scott affirmed his commitment to continuing negotiations, emphasizing the importance of bipartisan collaboration and achieving regulatory clarity.
Historical Context and Market Data
The current discussions echo past legislative efforts. The Genius Act of 2025, which established the existing stablecoin regulatory framework, addressed significant yield loopholes that previously benefited banks. This historical context provides insight into the ongoing conflicts and priorities in the current bill discussions.
As of January 18, 2026, at 16:07 UTC, Bitcoin (BTC) was trading at $95,132.21. Its market capitalization was approaching $1.90 trillion, with a 24-hour trading volume of $16.85 billion. The cryptocurrency had experienced a positive shift of 7.67% over the preceding 30 days.
Potential Impact and Future Outlook
The research team at Coincu observes that potential adjustments to the bill could significantly alter the mechanics of stablecoins and the oversight provided by the CFTC. This prospect may lead to financial uncertainty and potentially cautious behavior among investors. Moving forward, it will be crucial to understand the needs of community banks and foster collaboration between the crypto and traditional banking sectors to effectively shape future policies.