Coinbase CEO Brian Armstrong says company opposed crypto bill to protect consumers

Armstrong told CNBC that his firm pulled support for a sweeping digital assets bill after finding provisions that could have harmed consumers and stifled competition.

🔥What to know:

Brian Armstrong said Coinbase opposed the draft crypto bill after finding provisions that could harm consumers and competition.He told CNBC the industry expects negotiations to resume, with a revised draft potentially coming in weeks.Armstrong said he would prefer no legislation over a “bad bill” that could have killed several Coinbase products.#coinbase $BTC

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