{"id":13074,"date":"2025-10-10T12:20:03","date_gmt":"2025-10-10T12:20:03","guid":{"rendered":"https:\/\/bitunikey.com\/news\/coinbase-ceo-blasts-senate-plan-on-defi\/"},"modified":"2025-10-10T12:20:14","modified_gmt":"2025-10-10T12:20:14","slug":"coinbase-ceo-blasts-senate-plan-on-defi","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/coinbase-ceo-blasts-senate-plan-on-defi\/","title":{"rendered":"Coinbase CEO blasts senate plan on DeFi"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Coinbase CEO Brian Armstrong slammed a Senate Democratic proposal that would regulate DeFi front-ends as brokers, calling it a \u201cbad proposal\u201d that threatens U.S. crypto innovation.<\/p>\n<div id=\"cn-block-summary-block_f68f27ee99bc8f2208ca165cdd306724\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Coinbase CEO Brian Armstrong criticized a Senate Democratic proposal to regulate DeFi front-ends as brokers, saying it would hinder U.S. crypto innovation.<\/li>\n<li>Other crypto advocates echoed the concern, warning the plan could effectively ban DeFi development in the U.S.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>\u201cWe absolutely won\u2019t accept this,\u201d Armstrong declared in a<a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/x.com\/brian_armstrong\/status\/1976556420116905999\"> post on X<\/a>, warning that the proposal would hinder innovation and prevent U.S. from becoming the crypto capital of the world. However, he acknowledged that the \u201clegislating is a process\u201d and said that Coinbase is committed to working with lawmakers to \u201cget it right.\u201d<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">We absolutely won\u2019t accept this<\/p>\n<p>It\u2019s a bad proposal, plain and simple, that would set innovation back, and prevent the US from becoming the crypto capital of the world.<\/p>\n<p>But legislating is a process, and we\u2019re committed to engaging and helping Congress get it right. We will keep\u2026 <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/t.co\/SmHsBgFRoE\">https:\/\/t.co\/SmHsBgFRoE<\/a><\/p>\n<p>\u2014 Brian Armstrong (@brian_armstrong) <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/brian_armstrong\/status\/1976556420116905999?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">October 10, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>For context, the proposed framework, reportedly circulated among Senate Democrats, outlines how regulators could oversee decentralized finance as part of broader crypto market structure legislation. <\/p>\n<p>According to reporting from Politico, the document suggests that any company or individual profiting from a DeFi platform\u2019s front end (e.g. wallet interfaces and user-facing apps) should be required to register with the Securities and Exchange Commission or the Commodity Futures Trading Commission and operate as a licensed broker.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>Armstrong isn\u2019t alone in his criticism. Summer Mersinger, CEO of the Blockchain Association and former CFTC commissioner, said the proposal would \u201ceffectively ban decentralized finance, wallet development and other applications in the United States.\u201d<\/p>\n<p>\u201cThe language as written is impossible to comply with and would drive responsible development overseas,\u201d Mersinger said in a statement. She urged policymakers to continue bipartisan talks and avoid stifling technological progress.<\/p>\n<p>Jake Chervinsky, chief legal officer at venture firm Variant, echoed the sentiment on X, <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/x.com\/jchervinsky\/status\/1976380118437331425\">saying<\/a> that regulators were effectively proposing a crypto ban. <\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">1\/ Senate Democrats are trying to kill market structure.<\/p>\n<p>A group just sent a counter-proposal to the RFIA and it is deeply unserious. These Senators claim to be pro-crypto, but what they propose is basically a crypto ban.<\/p>\n<p>It&#8217;s hard to imagine a good deal happening right now \ud83e\uddf5 <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/t.co\/yL5bDbdCvq\">https:\/\/t.co\/yL5bDbdCvq<\/a><\/p>\n<p>\u2014 Jake Chervinsky (@jchervinsky) <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/jchervinsky\/status\/1976380118437331425?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">October 9, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Coinbase CEO Brian Armstrong slammed a Senate Democratic proposal that would regulate DeFi front-ends as brokers, calling it a \u201cbad proposal\u201d that threatens U.S. crypto innovation. Summary Coinbase CEO Brian&hellip;<\/p>\n","protected":false},"author":1,"featured_media":5353,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-13074","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/13074","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=13074"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/13074\/revisions"}],"predecessor-version":[{"id":13075,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/13074\/revisions\/13075"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/5353"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=13074"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=13074"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=13074"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}