[Coinbase Opposes Senate Crypto Bill, Potentially Impacting Legislative Process] Odaily Planet Daily News – Coinbase has stated that it will not support the current version of the Senate cryptocurrency bill. The company's CEO, Brian Armstrong, posted on social platform X, saying that the bill is “worse than the status quo under its current text” and that it’s better to have “no bill than a bad bill.” The Senate plans to hold revisions and a vote on the bill on Thursday morning. The core content of the bill includes clarifying the regulatory boundaries between the CFTC and SEC, defining when digital assets are considered securities or commodities, and introducing new disclosure requirements. Armstrong pointed out that the bill has significant issues regarding DeFi and stablecoin yields, warning that certain provisions could grant the government “unrestricted access to individuals’ financial records,” harm user privacy, and potentially “kill stablecoin reward mechanisms.” Sources familiar with the matter stated that Coinbase’s public opposition is “highly significant” and could influence the bill’s ultimate fate.