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Coinbase CEO Brian Armstrong highlighted the following issues with the bill:
- A defacto ban on tokenized equities.
- DeFi prohibitions, giving the government unlimited access to your financial records and removing your right to privacy.
- Erosion of the CFTC's authority, stifling innovation and making it subservient to the SEC
- Draft amendments that would kill rewards on stablecoins, allowing banks to ban their competition
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