Coinbase CEO: The deadlock over the structural bill is caused by the entire banking industry

2026-02-19 01:45:20

Deep Tide TechFlow News, February 19 — According to CoinDesk, Coinbase CEO Brian Armstrong stated at the World Freedom Forum on Wednesday that the deadlock over the Digital Asset Market Clarity Act is caused by the entire banking industry rather than individual banks. These groups hold a zero-sum mindset, believing that the banks must win at the expense of crypto, and they insist on banning stablecoin rewards. He said that small and medium-sized banks are not worried about deposits flowing to stablecoin issuers, but rather to large banks; and Coinbase has already provided crypto infrastructure to the top five banks globally, with other banks also hiring blockchain positions.

Armstrong expects the next draft to offer new rights to banks in exchange for support for stablecoin rewards. A White House mediation meeting was held last week, with a continuation scheduled for this Thursday. The bill passed the House last year but was blocked in the Senate Banking Committee last month.

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