Coinbase CEO: Absolutely rejects Senate Democrats' DeFi regulatory proposal, which will prevent the U.S. from becoming a global crypto hub

ChainCatcher news, Coinbase CEO Brian Armstrong posted on the X platform stating that he will absolutely not accept the DeFi regulatory proposal from the U.S. Senate Democrats, calling it a bad proposal that would simply hinder innovation and prevent the U.S. from becoming the world's crypto capital.

Brian Armstrong also retweeted a statement from Blockchain Association CEO Summer Mersinger, which stated that the U.S. Democrats' DeFi regulatory proposal is fundamentally unworkable and would effectively ban decentralized finance, wallet development, and other applications within the United States.