Coinbase CEO on the failed crypto bill: “The ethics deal is what killed it”
Coinbase’s CEO says ethics killed the crypto bill. The SEC will finish it.
Brian Armstrong says the ethics deal is what killed the Clarity Act, not the banks and not stablecoin rewards. In his first interview since the 49 to 50 vote, the Coinbase CEO says the draft that failed was a good bill, that 95% of what both sides wanted was already agreed, and that he now assumes it is dead.
His answer is to stop waiting for Congress. SEC Chair Paul Atkins and CFTC Chair Mike Selig have both said they will write rules under existing authority, and Armstrong argues that path is more permissive than the bill would have been.
Timestamps
0:00 First comments since the vote
0:54 He said no bill beats a bad bill. Was this a good one?
2:12 What actually killed it
4:04 A vote against the bill was a vote for no ethics rules
6:20 Is it dead, and can Tillis revive it
8:15 The banks and the stablecoin rewards they fought over
9:56 What the SEC and CFTC can do without Congress
11:23 Why the accredited investor rules bother him
14:31 Whether agency rules survive a change of administration
18:22 Why legislation would have brought more competition
19:59 Tokenized stocks, and why they launched in Abu Dhabi
24:05 Building the everything exchange
27:52 Paying AI agents in stablecoins
30:13 Why he thinks the AI panic is overblown
34:25 Bitcoin cycles
Featuring Brian Armstrong, Co-founder and Chief Executive Officer, Coinbase, with Scott Melker, Host, The Daily Wolf, Yahoo Finance.
#Coinbase #BrianArmstrong #Crypto #ClarityAct #SEC #CFTC #YahooFinance #ScottMelker #DailyWolf
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