Coinbase CEO denies rumors that the White House will withdraw its support for a cryptocurrency market structure bill.

PANews reported on January 18 that Coinbase CEO Brian Armstrong denied reports that the Trump administration was considering withdrawing its support for the cryptocurrency market structure bill. Armstrong stated that the claim was inaccurate. He added that the White House has been very active on this matter. "They have indeed asked us to try to reach agreements with banks, and we are currently working on that. In fact, we have been coming up with some good ideas that we hope will specifically help community banks in this bill, as that bill focuses on community banks. More information will be released soon."

According to a previous report by journalist Eleanor Terrett, the White House is considering withdrawing its support for the Market Structures Act if Coinbase does not offer a yield agreement that satisfies banks.