Coinbase, Kraken, and Gemini Lobbied Senators to Strip Token Manipulation Language

Coinbase, Kraken, and Gemini lobbied senators earlier this year to strip language from a digital asset market structure bill that would have required platforms to list only tokens “not readily susceptible to manipulation.”

“The investor warning for Zondacrypto and its parent company”

Cointelegraph

The edit came after the Senate Agriculture Committee advanced its version in January, and wire reports said the exchanges argued the provision made it harder to list smaller tokens, with the language ultimately removed.

Cointelegraph

Coinbase chief policy officer Faryar Shirzad said on social media the issue was already dealt with in the Agriculture Committee markup, calling the reports “old news.”

Coinbase CEO Brian Armstrong said publicly the exchange could not support the bill “as written,” citing concerns over tokenised equities, hours before the Senate Banking Committee postponed its markup.

The broader legislation was labelled the CLARITY Act when the House passed it in July 2025, and it would hand more digital asset authority to the Commodity Futures Trading Commission.

A separate stablecoin yield compromise emerged last week between crypto and banking representatives, and the article said the deal could clear the path for the CLARITY Act to advance in the banking committee.

Some lawmakers want ethics language on conflicts of interest included, and the piece said most are pencilling in passage within weeks.

Financial-News.co.uk

Coinbase US policy vice president Kara Calvert said the exchange expected a banking committee markup by next week, while other senators predicted the bill would become law before the August recess.

White House crypto adviser Patrick Witt said the administration was aiming for a July 4 deadline for House passage after a Senate vote in June.

The article also said the CFTC and the Securities and Exchange Commission announced plans to coordinate crypto oversight in March, regardless of whether Congress acts.

Estonia’s Financial Supervision and Resolution Authority (FSA) issued an investor warning for BB Trade Estonia OÜ, the company that operates the Zondacrypto digital asset exchange.

“Estonia's FSA issues investor warning about Zondacrypto Estonia's Financial Supervision and Resolution Authority (FSA), the country’s financial regulator, issued an investor warning for BB Trade Estonia OÜ, the company that operates the Zondacrypto digital asset exchange”

TradingView

The FSA said the company did not have a white paper listed on its website for the “TeamPL” crypto token listed on the crypto exchange, a violation of the European Union’s Markets in Crypto-Assets (MiCA) regulatory framework.

Cointelegraph said it reached out to Zondacrypto but did not receive a response by the time of publication, and it linked the warning to withdrawal issues and a Polish law enforcement investigation.

In April, Zonda CEO Przemysław Kral said the exchange did not have access to a cold wallet containing about 4,500 Bitcoin (BTC), valued at about $360 million at the time of writing.

Kral claimed the wallet’s private keys were never handed over by Sylwester Suszek, the founder and former CEO of Zondacrypto, who has been missing since 2022.