Coinbase has withdrawn support for the Clarity Act, citing concerns that some unfavorable amendments in the bill would make the regulatory environment worse than the current situation. CEO Brian Armstrong stated that the company would rather have no bill than a bad one. In contrast, Ripple Labs CEO Brad Garlinghouse and Peter Van Valkenburgh of Coin Center expressed support before the Senate hearings on the bill, believing that although there are still some issues to address, the bill represents a positive step forward for the industry.

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