Coinbase pulls support for crypto bill: 'no bill' better than 'bad bill'

Coinbase CEO Brian Armstrong has rescinded support for a crypto bill, citing concerns that it could materially worsen conditions for the U.S. crypto industry. He outlined four critical points that would negatively impact the market, suggesting that a 'bad bill is worse than no bill at all.' This warning underscores increasing anxiety regarding regulatory measures, which could stifle the industry's potential growth. Investors should remain cautious as this sentiment could impact market stability, emphasizing the need to closely monitor developments in the regulatory landscape.