Gaming News 3 July 2025

January 18, 2026, 12:31 PM EST. Coinbase pulled support for the Senate CLARITY Act at the last minute, prompting a sharp backlash from the crypto industry. Hours before the Senate Banking Committee markup, Coinbase said they would back no bill unless the legislation is improved, citing concerns over stablecoins and how holders earn interest. CEO Brian Armstrong attributed the move to pressure from big banks lobbying to curb on-chain wallets. The decision halted what had been a momentum-building push to define whether digital assets are securities or commodities and to set firms' regulatory duties and consumer protections. Republicans and Democrats had signaled broad agreement in principle, but the withdrawal disrupted the markup schedule and triggered a scramble among exchanges like Kraken and investors at a16z as they weigh the sector's political prospects. The outcome remains uncertain as lawmakers reassess.