Coinbase CEO Optimistic About Crypto Market Structure Bill

Brian Armstrong, the CEO of Coinbase, expressed optimism this week regarding the Crypto Market Structure Bill, noting that it has received strong bipartisan backing. This legislation aims to provide clarity in the U.S. crypto landscape, particularly concerning the roles of various regulatory bodies like the Securities and Exchange Commission and the Commodity Futures Trading Commission, especially in the area of tokenized stocks.

After engaging with lawmakers recently, Armstrong remarked, “This is how we can build the crypto industry here in America, promote innovation, protect consumers, and ensure another Gary Gensler doesn’t enter the scene.” He noted that there is significant support in the Senate for this initiative, with lawmakers from both parties ready to move forward with the legislation.

“I think there’s a chance to accomplish this. I’ve never been more bullish on the market structure bill. Once it passes, you’ll see a freight train leaving the station.”

Earlier this month, Senator Cynthia Ramis anticipated that the bill might reach President Donald Trump’s desk by year-end. Various representatives from the crypto industry, including executives from Ripple, Kraken, and venture capital firms like A16Z and Paradigm, were reportedly present during discussions.

Kraken CEO Highlights Builder Protection

Arjun Sethi, CEO of Kraken, shared his thoughts at the Round Table, emphasizing that the Market Structure Bill should focus on supporting crypto products and services while prioritizing the needs of builders. He said, “Thanks to everyone fighting in DC for Crypto’s future. But the real battle is just beginning. We need to protect your right to develop protocols, chains, memes, tokenized stocks, and more.”

Armstrong mentioned that he would not allow attempts from lawmakers to restrict the banking sector’s interest in stubcoins. He referred to recent warnings from several banking groups about the risks posed by harvested stubcoins to traditional banking models, though previous efforts to prohibit such interests had failed.

Progress on Bitcoin Reserve Building

This week at Capitol Hill seemed active as U.S. lawmakers engaged with 18 Bitcoin leaders, including Michael Saylor, to explore ways to advance a strategic Bitcoin reserve under the Trump administration.

Saylor and his team have proposed ideas for passing the Bitcoin Act backed by Cynthia Lumis, aiming for a government acquisition of one million Bitcoin over the next five years through budget-neutral strategies. Some approaches suggested include a gold certificate from the Ministry of Finance and a review of tariff revenue.

Related: Sec, Gemini Trust reach agreement over crypto loan disputes