Coinbase CEO denies rumors that the White House will withdraw support for the cryptocurrency market structure bill

Coinbase CEO Brian Armstrong denied reports that the Trump administration is considering withdrawing support for the cryptocurrency market structure bill. Brian Armstrong stated that the claim is inaccurate. The White House has been very proactive on this matter. "They have indeed asked us to try to reach an agreement with the banks, and we are currently working on that. In fact, we have been brainstorming some good ideas that we hope will specifically help community banks, as the focus of this bill is community banks. More information will be released soon."

Previously, according to crypto journalist Eleanor Terrett, the White House is considering withdrawing support for the market structure bill if Coinbase does not present a yield agreement that satisfies the banks.