Senate markup of crypto bill may be delayed after Coinbase withdraws support

A Senate markup for a cryptocurrency market structure bill, known as the Clarity Act, scheduled for Jan. 16, may be canceled after Coinbase withdrew its support for the legislation. Eleanor Terrett, host of "Crypto in America," reported the development, citing an anonymous source. Writing on X, Terrett said she has been unable to confirm if the matter is proceeding within the Senate Banking Committee and has requested comment from the office of Chairman Tim Scott. However, she noted that industry sources confirmed Coinbase had asked the Senate to postpone the markup and subsequently officially withdrew its support for the bill.