Crypto Industry Divided as Coinbase Withdraws Support for Market Structure Bill
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: 3h ago- Industry Division: Coinbase CEO Brian Armstrong stated that the current market structure bill has “too many issues,” including a de facto ban on tokenized equities and restrictions on DeFi, highlighting increasing internal divisions within the crypto industry that could impact future legislative processes.
- Legislation Delay: The Senate markup of the CLARITY Act, originally scheduled for this week, has been postponed, reflecting the challenges lawmakers face in balancing regulation and innovation, which may increase uncertainty in the crypto market and affect investor confidence.
- Positive Market Reaction: Despite the controversy, OKX Singapore CEO Gracie Lin noted that Bitcoin surged to $97,600 due to renewed ETF demand, indicating market expectations for a stable framework in digital asset markets, potentially supporting future investments.
- Investor Focus: Market participants will closely watch how the CLARITY Act evolves through the Senate Banking Committee, the resilience of spot ETF flows, and the impact of the upcoming Fed meeting on financial conditions, as these factors will directly influence the future performance of crypto assets.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
