A Coinbase VP has stated that the company withdrew its support for a Senate crypto bill due to what they describe as "fatal flaws". According to CoinDesk, Kara Calvert, VP of US Policy at Coinbase, explained the reasons behind the company's change of stance on the legislation. The decision to withdraw support came just hours before a scheduled markup, suggesting a late-stage reevaluation of the bill's implications for Coinbase.

A Coinbase VP has stated that the company withdrew its support for a Senate crypto bill due to what they describe as "fatal flaws". According to CoinDesk, Kara Calvert, VP of US Policy at Coinbase, explained the reasons behind the company's change of stance on the legislation. The decision to withdraw support came just hours before a scheduled markup, suggesting a late-stage reevaluation of the bill's implications for Coinbase.