Here's why Coinbase and other companies soured on major crypto bill

Recently, Coinbase and other companies have expressed a negative stance towards a significant cryptocurrency bill. This legislation includes provisions on decentralized finance (DeFi), the jurisdiction and authority of the SEC, and stablecoin yields, raising concerns among industry participants. The potential expansion of SEC jurisdiction is particularly alarming, as it could have profound implications for the operation of companies in the cryptocurrency market. The introduction of a complex regulatory framework could erode investor confidence, raising fears of capital outflows. How these factors will affect future market trends warrants close attention, as the uncertainty regarding the future of cryptocurrencies is undeniable. Companies may need to seek new strategies in anticipation of stricter regulations.