Trump Administration Considers Withdrawing Support for Cryptocurrency Bill, Seeks Concessions from Coinbase: Report

Former Fox Business reporter Elenor Terrett reported on the 17th, citing sources close to the Trump administration, that the White House is contemplating a full withdrawal of support for the cryptocurrency market structure bill. According to sources, if Coinbase does not return to the negotiating table with a concession proposal that satisfies banks and brings everyone to agreement on yields, a withdrawal of support could be possible. The White House has reportedly expressed strong dissatisfaction with Coinbase's unilateral actions on the 15th. Related: U.S. Senate Banking Committee postpones hearing on cryptocurrency bill following withdrawal of support from Coinbase.