Coinbase CEO Brian Armstrong said the exchange is withdrawing its backing for a major U.S. market-structure crypto bill and mounted a media tour, reportedly clashing with JPMorgan’s Jamie Dimon at Davos. The public disagreement underscores growing tensions between crypto platforms and traditional banks as U.S. policy debates heat up.
The White House has warned it may withdraw backing for a proposed crypto market bill after Coinbase said it does not support the legislation’s current approach. The dispute widens a split between regulators and major industry players and could reshape the bill’s future.