# Coinbase Withdraws Support for Senate Crypto 'Clarity' Bill

*Author: Jack Inabinet*
*Published: Jan 14, 2026*
*Source: https://www.bankless.com/read/news/coinbase-reverses-support-for-senate-clarity-bill*

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Brian Armstrong, CEO of crypto exchange Coinbase, has abruptly retracted his company's support for the [Digital Asset Market Clarity Act](https://www.bankless.com/read/5-highlights-from-the-senates-much-hyped-crypto-market-structure-draft-bill) less than 48 hours after its publication, claiming the draft to be untenable as written for a number of reasons.

### What's the Scoop? 
- **Numerous Objections:** According to Brian Armstrong, the Senate's proposed crypto market structure legislation is unsupportable in its current form for a number of reasons. Among objections cited are: a *de facto* ban on tokenized equities, prospective increases in government/regulatory oversight, increased powers for the SEC, and anti-stablecoin reward provisions.
- **Prior Support:** Just yesterday, Coinbase came out in support of Clarity despite numerous incompatibilities with perceived crypto industry desires, claiming in a now-deleted post that a stablecoin yield prohibition was tolerable to avoid derailing momentum for crypto clarity.

> After reviewing the Senate Banking draft text over the last 48hrs, Coinbase unfortunately can’t support the bill as written.There are too many issues, including:- A defacto ban on tokenized equities- DeFi prohibitions, giving the government unlimited access to your financial…— Brian Armstrong (@brian_armstrong) [January 14, 2026](https://twitter.com/brian_armstrong/status/2011545247105355865?ref_src=twsrc%5Etfw)
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