The White House is dissatisfied with Coinbase's "unilateral" withdrawal action and is considering withdrawing support for the Cryptocurrency Market Structure Bill

According to the latest X post by Eleanor Terrett, sources reveal that the White House is contemplating a complete withdrawal of support for the Cryptocurrency Market Structure Bill, with the direct reason being Coinbase's "unilateral" withdrawal action, which has sparked strong dissatisfaction within the White House.

The report states that the White House described Coinbase CEO Brian Armstrong's announcement on Wednesday to withdraw support for the bill as a "sudden change of stance," and expressed "anger" because they were not notified in advance.

Sources say that the White House believes that one company cannot represent the entire industry, and that its unilateral withdrawal undermines the legislative process aimed at reaching broad consensus.

If Coinbase cannot deliver a yield agreement that satisfies banks and gains consensus among all parties, and if negotiations do not resume, the White House will consider completely abandoning support for the bill, as ultimately the decision-making power on this clause lies with the Trump administration rather than individual companies.

Overall, whether the bill can successfully pass now largely depends on whether Coinbase and the White House can reach an urgent compromise on core disagreements.

The White House's potential withdrawal threat will also directly determine whether this highly anticipated bill becomes a milestone or falls victim to political deadlock.

This move also highlights the inherent difficulty in bridging the fundamental conflicts between traditional financial (banking) interests and the crypto industry on the complex issue of crypto regulation.

#加密货币法案 #Market Structure Bill