Coinbase Faces Regulatory Hurdles as House Democrats Prepare to Object to Crypto Hearing

House Democrat Maxine Waters is set to lead opposition against a crucial joint crypto regulatory hearing, potentially disrupting discussions on the future of digital assets. The hearing, featuring industry leaders like Coinbase’s Greg Tusar, aims to address innovation in the sector but faces political challenges.

House Democrat Maxine Waters to Object to Crypto Regulatory Hearing

Ranking House Financial Services Committee member Maxine Waters (D-CA) will reportedly lead Democratic opposition to Tuesday’s joint crypto hearing with the Agriculture Committee. The session, titled "American Innovation and the Future of Digital Assets," faces disruption despite featuring industry heavyweights like Coinbase’s Greg Tusar and former CFTC chair Rostin Behnam.

Unanimous consent requirements for the market structure discussion appear unlikely as Waters prepares to exit with Democratic colleagues. The planned walkout underscores deepening partisan divides on crypto regulation, even as exchanges like Coinbase push for clearer frameworks.

BTC Price Stagnates Amid US Whale Selling Pressure

Bitcoin’s price has stalled between $90,000 and $97,000 as selling pressure from U.S. institutional investors emerges. The leading cryptocurrency posted a 0.3% weekly decline, with technical indicators suggesting potential further correction.

Coinbase’s premium index - a key metric tracking institutional demand - shows whales are now liquidating positions after accumulating throughout April. This shift aligns with Bitcoin’s recent pullback from yearly highs.

Market analysts highlight the Coinbase premium’s sharp decline as evidence of changing whale behavior. The exchange’s institutional clientele had previously driven rallies through large-scale accumulation.