Senate Banking Committee cancels tomorrow's crypto market structure markup after Coinbase withdraws support.



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Coinbase CEO Brian Armstrong highlighted the following issues with the bill:

- 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

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