Coinbase CEO Brian Armstrong to work on market structure bill in Davos

Coinbase CEO Brian Armstrong said he will continue working on the U.S. crypto market structure bill during the World Economic Forum in Davos this week.

In a video statement posted on X, Armstrong said Coinbase will stay active on the bill during Davos, holding further discussions with bank executives to bridge remaining gaps.

"We're going to continue to work on the market structure legislation, and meet with some of the bank CEOs to figure out how we can make this a win-win," said Armstrong.

Armstrong noted that stablecoins should open up opportunities for both crypto companies and traditional banks on a level playing field. He added that he will relay those discussions to the Senate and the administration to drive legislative progress.

At the World Economic Forum, held from Jan. 19 to 23, Armstrong said he will also engage with world leaders on how crypto can update traditional financial systems and explore the potential of tokenization in democratizing access to capital markets.

Stablecoin issue

Coinbase pulled its support from the market structure bill last week after reviewing the Senate's updated bill text. The exchange raised multiple concerns with the draft text, including restrictions on stablecoin yield.

The Senate's draft text sought to bar digital asset providers from paying yield simply for holding stablecoins, though it would allow activity-based rewards tied to transactions, staking, or providing liquidity. This aligns with the banking sector's strong opposition to crypto platforms offering such returns, arguing it could drive deposits away from traditional savings accounts and create financial instability.

Coinbase's withdrawal has led the Senate Banking Committee to postpone its anticipated markup hearing without setting a new date. Still, Coinbase said it will continue working with legislators to amend and advance the bill, which is expected to establish clear regulatory boundaries for digital assets.

Meanwhile, President Donald Trump is also attending the Davos forum, where he is expected to meet with global investors, according to a Reuters report. It is unclear whether digital assets are on Trump's agenda, as the ongoing U.S.-EU dispute over Greenland has taken center stage.