Major US crypto exchange Coinbase has withdrawn support for the Digital Asset Market Clarity Act, citing concerns over potential harm to the industry. CEO Brian Armstrong highlighted issues such as a “defacto ban” on tokenized equities and privacy risks for consumers. Industry participants are divided on the outcome, with some hoping for a better draft. The Senate Committee on Agriculture has set Jan. 27 for a markup hearing on the bill. SEC chair Paul Atkins is optimistic about Trump signing the bill this year. Ripple CEO Brad Garlinghouse remains optimistic that issues can be resolved through the mark-up process.

Read more at Cointelegraph: Coinbase Withdraws Support For Crypto Market Structure Bill