Coinbase Withdraws Support for Crypto Bill on Eve of Key Senate Vote

Coinbase has announced that it will withdraw its support for a bipartisan crypto regulation bill just before a crucial Senate vote. The bill aimed to provide a framework for digital asset regulation but faced criticism from various stakeholders, including industry advocates who felt it did not adequately protect consumer interests. Coinbase's decision reflects growing concerns over the bill's implications for the crypto industry. The withdrawal could impact the bill's chances of passing in the Senate, as support from major industry players is often seen as vital for such legislation.

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