Coinbase CEO Brian Armstrong is participating in high-level discussions at the World Economic Forum (WEF) in Davos this week, aiming to influence global crypto policy. His agenda centers on three primary goals: advocating for economic freedom through crypto adoption, pushing for market structure legislation, and promoting asset tokenization to democratize access to capital markets.
The meetings arrive at a critical juncture, following Coinbase's recent withdrawal of support from the Senate version of the CLARITY Act. Armstrong plans to discuss the advancement of the US crypto market structure bill with global bank leaders and policymakers. He emphasized that stablecoins should present an opportunity for both crypto firms and traditional banks, provided rules are applied evenly.
A significant point of contention in US legislation is stablecoin yield. The Senate draft bill seeks to block crypto platforms from paying users yield for holding stablecoins, a rule supported by banks concerned about deposit competition. Coinbase opposes this, arguing it removes a key stablecoin use case. The firm's withdrawal of support forced a delay in a planned Senate Banking Committee markup hearing, with no new date set.
Armstrong's presence at WEF signals crypto's growing legitimacy on the global stage. He aims to align innovation with policy, reduce regulatory fragmentation across jurisdictions, and encourage frameworks that support transparency and market integrity. The outcomes of these discussions could influence long-term regulatory direction, potentially accelerating clarity and unlocking greater institutional participation in crypto markets.
