Coinbase CEO: "Will continue discussions in Davos on US digital-asset market structure bill"

With US legislation on digital-asset (cryptocurrency) market structure at an impasse, discussions are expected to continue on the global stage in Davos.

According to The Block on Jan. 19 (local time), Coinbase Chief Executive Officer (CEO) Brian Armstrong said in a video message posted on X that "we will continue discussions this week in Davos on the US digital-asset market structure bill," adding that "through further talks with banking CEOs, we will work to reconcile the remaining sticking points."

Armstrong stressed that "to advance market structure legislation, we are looking for solutions that can be win-win with the banking sector," adding that "stablecoins should be able to open a level playing field for both digital-asset firms and traditional finance." He also said he would convey the substance of the Davos discussions to the US Senate and the administration to help move the legislation forward.

Earlier, after reviewing the latest draft market structure bill unveiled in the Senate, Coinbase withdrew its support for the legislation, citing provisions such as restrictions on stablecoin rewards (yields). The draft limits the practice of paying returns simply for holding stablecoins, while allowing activity-based rewards tied to trading, staking, and liquidity provision. This is interpreted as reflecting demands from banks concerned about deposit outflows and financial instability.

After Coinbase withdrew its support, the US Senate Banking Committee postponed the previously scheduled markup of the bill. Coinbase, however, says it will continue to participate in legislative discussions on the premise that the bill is revised. Meanwhile, US President Donald Trump is also expected to attend this year's Davos forum, but it remains unclear whether digital assets will be included on the official agenda.