Coinbase and Robinhood stocks dropped sharply despite Bitcoin's recent rebound, amid uncertainty over the CLARITY Act. Brian Armstrong, Coinbase's CEO, withdrew support, warning that the

Coinbase signals possible withdrawal of support for a U.S. crypto bill as stablecoin reward limits raise revenue and policy concerns.

Coinbase Global Inc. CEO Brian Armstrong urged Congress on Thursday, January 15, to enact laws ensuring fair competition, following the postponement of the cryptocurrency market structure bill.

The Senate banking committee has delayed its crypto bill markup after Coinbase pulled support, raising fresh uncertainty around U.S. digital asset regulation.

The digital assets crowd has been complaining bitterly about bank-lobbyist tactics, but Senate lawmakers have a much longer relationship with their bankers.

Investing.com -- Coinbase Global Inc (NASDAQ:COIN) is becoming less dependent on volatile trading activity and more exposed to steadier, long-term growth areas of the crypto industry. Goldman Sachs upgraded the crypto exchange company to Buy from Neutral.

Crypto stock price including Coinbase, Robinhood, and Circle fell after the Senate delayed the CLARITY Act markup, triggering renewed regulatory uncertainty.