Coinbase Refutes Rumors of White House Threat to Pull Support for Crypto Bill
Coinbase CLO Paul Grewal has denied rumors that the White House threatened to withdraw support for the FIT21 crypto bill, addressing concerns over regulatory stability.
Is the White House really playing hardball with crypto? The industry was sent into a tailspin following whispers of a government ultimatum, but Coinbase is now stepping in to clear the air.
Coinbase White House Crypto Bill Rumors Denied
According to Reuters, Coinbase's Chief Legal Officer, Paul Grewal, categorically denied reports on January 16, 2026, suggesting that the Biden administration threatened to withdraw support for the FIT21 (Financial Innovation and Technology for the 21st Century) Act. Grewal clarified that the company hasn't received any such threats, calling the rumors "mischaracterized."
The tension stems from a legislative battle over who gets to police the digital asset space. The FIT21 bill aims to shift most oversight to the CFTC, potentially stripping the SEC of much of its current enforcement power. As the bill gains momentum, political maneuvering between pro-crypto lawmakers and skeptical regulators has intensified.
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