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.
@AttorneyCPA@elonmusk Does it bother you that most people look at you and your profession and know that you are, to quote your egomaniacal idol Keith Olbermann, “The Worst People on the Planet?” After Keith himself of course. Y’all are the reason we have virtually no freedoms left.
@theakt2 @politvidchannel Because a few of your elites decided on nominating a horribly unqualified and unlikeable candidate without even discussing it with your voter base or letting them vote. Did you think there would be no backlash from your own disenfranchised party members?