๐ข BREAKING: COINBASE ACCUSED OF BLOCKING THE CRYPTO BILL ๐จ
According to strategist Bessent, โrecalcitrant actorsโ are actively blocking progress on the U.S. crypto regulatory bill โ and he points to Coinbaseโs stance as a major driver.
This mirrors comments from Brian Armstrong, who said heโd โrather have no bill than a bad billโ โ pushing back hard on legislation he believes is harmful to crypto innovation.
๐ Bessent also added a sharp line:
๐ง โBanks and other crypto firms are united against Coinbase.โ
That suggests deep tensions โ not just about regulations โ but between industry power players.
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๐ง Why This Matters to Crypto Markets
๐ฅ Regulatory Uncertainty = Volatility Catalyst
When big exchanges and financial firms fight over policy, markets tend to swing hard.
โ๏ธ Coinbase Pushing Hardline Position
Armstrongโs stance delays legislative clarity โ which can temporarily dent institutional confidence.
๐ Factional Split in Crypto Industry
If major firms donโt unite around a compromise, regulators may impose even harsher rules later.
๐ผ Banks vs Crypto Firms Politics
Bessentโs claim escalates narrative: institutional finance vs exchange protocols โ not a unified front.
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๐ What This Could Signal for Traders
โ Short-term volatility risk โ headlines can whip prices
โ Regulation narrative intensifies โ privacy & decentralization assets may react differently
โ Sentiment shock zones โ when uncertainty rises, risk assets bleed
โ Rotation toward safe havens in crypto (BTC, ETH) while altcoins lag
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๐ฃ ๐ฅ Bessent claims Coinbase is blocking the crypto bill because theyโd โrather have no bill than a bad billโ ๐ค
Banks & firms against Coinbase? ๐ฟ
Regulation drama = volatility.
#CryptoNews #Coinbase #Regulation #Trading โธป
๐ TL;DR
โ Coinbase prefers no bill over a bill it dislikes
โ Bessent says this is holding up crypto legislation
โ Industry factions widening
โ Short-term volatility likely
$BTC