Brian Armstrong, CEO of Coinbase, has refuted claims that the White House is withdrawing its support for the Clarity Act, legislation intended to regulate the U.S. cryptocurrency market.
Armstrong stated on social media, "In general, love your posts, but this is not accurate. The White House has been super constructive here... We’ve been cooking up some good ideas on how we can help…"
The U.S. Senate Banking Committee recently postponed its review of the Clarity Act, with Coinbase expressing concerns over the bill's latest version, citing issues like transaction restrictions on tokenized stocks and stablecoin rewards.
Reports from journalist Eleanor Terrett indicated tension between Coinbase and the U.S. administration, suggesting that White House officials were upset about the company's lack of communication regarding negotiations. They allegedly warned that support for the bill could be withdrawn unless talks resumed.
