Coinbase has pulled its support for a major Senate cryptocurrency bill due to unresolved policy issues, particularly regarding tokenized equities and DeFi. The Senate Banking Committee postponed a markup hearing as concerns about the bill's provisions and timing pressures prompted Coinbase CEO Brian Armstrong to voice his opposition.

The White House is bringing together banking and crypto industry leaders to discuss a controversial digital-asset bill. This follows Coinbase CEO Brian Armstrong's decision to withdraw support for a draft that aims to change the crypto market structure.