A last-minute public intervention by Brian Armstrong, chief executive of Coinbase, delayed progress on the Digital Asset Market Clarity Act, blocking legislation that supporters say is needed to give banks regulatory certainty as they expand into digital assets.
The delay has frustrated some lawmakers, who argue the bill would reduce systemic risk by clarifying how crypto-related activities are regulated. While Democratic critics call the proposal risky and premature, several legal experts and industry observers warn that prolonged uncertainty could itself create operational and compliance risks for banks.
