After reviewing the Senate Banking draft text over the last 48hrs, Coinbase unfortunately can’t support the bill as written.
There are too many issues, including:
- A defacto ban on tokenized equities
- DeFi prohibitions, giving the government unlimited access to your financial records and removing your right to privacy
- Erosion of the CFTC’s authority, stifling innovation and making it subservient to the SEC
- Draft amendments that would kill rewards on stablecoins, allowing banks to ban their competition
We appreciate all the hard work by members of the Senate to reach a bi-partisan outcome, but this version would be materially worse than the current status quo. We’d rather have no bill than a bad bill. Hopefully we can all get to a better draft.
We'll keep fighting for all Americans and for economic freedom. Crypto needs to be treated on a level playing field with the rest of financial services so we can build this industry in a safe and trusted way in America.
🚨 JUST IN: Coinbase, Snapchat, Roblox, Canva, and Duolingo are facing outages amid an ongoing AWS issue.
Coinbase says it’s working to restore access and that all funds are safe.
Donald Trump will fire Gary Gensler on day 1. Gensler should be held accountable for all #XRP investors and pay people and #Ripple compensation for pain and suffering! Retweet if you agree! 🚀🚀🚀
The SEC picked fights with the industry and is losing badly in the Courts. They’re now fighting fellow regulators like the CFTC, and falling behind international counterparts. At what point will the SEC realize they will lose the war against ETH just as they lost against XRP?
Make more short films with my drone. #DJIHolidays I entered the DJI festive calendar for my chance to win a DJI Mystery Future Box. You can join too via https://t.co/dRxZqLpa2u
@Twitwatchtv Yes I do. I primarily play war zone with my squad but am also doing a first time play through of the Witcher 3. Some pretty funny stuff and always a good time. https://t.co/ggTpeGe1u6