- Brian Armstrong, Coinbase’s CEO, applauds progress on market structure legislation and sees the bill approaching a key turning point soon.
Coinbase CEO Brian Armstrong says he looks forward to the passage of the Digital Asset Market Structure legislation in no distant time, going by his estimation of the “good progress” made at the recent meetings between the White House, crypto, and banking representatives.
Armstrong Signals Optimism Amid Legislative Stalemate
The billionaire crypto entrepreneur is confident that a compromise that will advance President Trump’s crypto vision while also addressing banking needs is possible. However, he maintains that what’s most important is pushing for the interests of the crypto industry in the bill.
“We’re all in,” said Armstrong. “We were the first ones fighting for market structure before it was popular, and we’re staying at the table. GENIUS passed 6 months ago and is now being re-litigated. That deeply impacts our customers.”
Amid the ongoing legislative gridlock on market structure, the White House has organized two meetings so far, between crypto and Wall Street executives, to deliberate on how to work around the major hurdles, like the issue of stablecoin rewards. While these meetings, especially the most recent, were said to be productive, there were no compromises or definitive decisions reached.
The Coinbase CEO reiterated the company’s support for the bill by highlighting its attendance at both meetings. According to him, the crypto industry is making substantial progress in reaching a common ground with banks and the White House and will keep promoting what’s best for crypto users, particularly essential incentives like stablecoin rewards.
Coinbase Chief Legal Officer, Paul Grewal, also confirmed the magnitude of efforts the administration is making to advance market structure. The official who visited the White House this week over the legislation stated that the administration is “committed to finding solutions” for everyone, especially American consumers.
Regulators and Industry Leaders Align to Shape America’s Crypto Future
Speaking to Fox earlier this week, Treasury Secretary Scott Bessent urged lawmakers and industry representatives to hasten negotiations and finalize agreements so as to enable them pass the legislation by Spring. He sees this window as a critical opportunity that will streamline rulemaking, influence market conditions, and ultimately determine the future of American crypto leadership.
Bessent called out the few “recalcitrant actors” who insist on their terms instead of shifting grounds to accommodate a compromise that would advance the bill. He was alluding to Coinbase’s withdrawal of support for the legislation a few hours before the markup date, which significantly contributed to the indefinite postponement.
While market structure talks continue, the Securities and Exchange Commission and the Commodity Futures Trading Commission have been working together to streamline regulatory efforts and foster inter-agency cooperation.
The CFTC on Thursday announced its Innovation Advisory Committee Members who would advise the agency on market realities that will aid its decisions and rulemaking.
Members include CEOs of Coinbase, Ripple, Gemini, NASDAQ, Kraken, Uniswap Labs, Polymarket, Robinhood, and other firms from across the digital asset industry. This move aligns with broader efforts to usher in the “Golden Age of American Financial Markets”.
