Legal issues likely preventing Armstrong's USADA testimony

(CBS News) Disgraced cycling legend Lance Armstrong says he is willing to talk frankly in the wake of admitting to blood doping, but Wednesday, he announced he will not participate in the U.S. Anti-Doping Agency's investigation.

Travis Tygart, the CEO of the USADA, has said that confessing under oath would be Armstrong's only chance to have his lifetime ban from cycling reduced.

As the Wednesday deadline for Armstrong to agree to cooperate with USADA came and went, the cyclist said he will not participate in the investigation, under the terms specified by USADA, releasing a statement through his lawyer that said, "Lance will not participate in USADA's efforts to selectively conduct American prosecutions that only demonize selected individuals."

The New York Times' Juliet Macur told CBS News' Elaine Quijano, "He's showing more of that defiance that we had seen in the past and more of that reluctance to work with authorities."

She added, "I'm not surprised in the least bit that Lance Armstrong is not talking to USADA right now because he has so many different legal problems that he's entangled in."

Watch Elaine Quijano's report in the video above

In January, Armstrong sat down with Oprah Winfrey and admitted that he doped throughout his esteemed career, on his way to seven Tour de France titles.

He told Winfrey, "I view this situation as one big lie, that I repeated a lot of times."

Bill Strickland, editor-at-large, of Bicycle magazine spoke to Armstrong Wednesday and said despite his recent admissions, Armstrong thinks USADA's condition "were going to be restrictive to him" and "believes the other riders who testified were able to talk informally and then review an affidavit before signing it."

Unlike other riders who have cooperated with USADA, Strickland said that Armstrong "would be under oath right away and it would be videotaped" and is therefore "worried about perjuring himself in later testimony he might have to give in other cases."

Watch Strickland's full "CTM" interview in the video below.

Why won't Lance Armstrong cooperate with USADA?

"Legally it's probably a good move as he faces the whistle-blower suit ... [a] suit with SEA productions ... a libel suit [in England], so talking under oath anywhere is probably a bad idea," Strickland explained."It does mean it's probably the end of his career, his ambitions to race."

Strickland told "CBS This Morning," that Armstrong "was frustrated last night. He says he wants to come forward and cooperate with this."