Crypto Industry Split Over U.S. Market Structure Bill

The crypto industry is increasingly divided over the future of the U.S. Crypto Markets Structure Act (CLARITY), with several major players pushing back against Coinbase’s more confrontational stance.

Coinbase CEO Brian Armstrong has signaled a willingness to withdraw support for the bill, arguing he would “rather have no bill than a bad one.” In contrast, other industry leaders stress that abandoning the legislation risks squandering a rare window of bipartisan alignment.

Kraken CEO Arjun Sethi argued that unresolved issues should be handled through negotiation, not by walking away from years of cross-party cooperation.

a16z crypto Managing Partner Chris Dixon, Ripple CEO Brad Garlinghouse, and White House AI & Crypto Advisor David Sacks echoed this view, urging stakeholders to settle differences and finalize legislation by the end of the month. $BTC $ETH $USDC

Ledger Global Head of Policy Seth Hertlein warned that the current political environment may be as favorable as it gets, noting that delaying now could result in either no legislation at all or one shaped under far less friendly conditions.

Across the industry, there is a shared concern that regulatory uncertainty tied to changing administrations could undermine software availability, developer protections, and content distribution rights. For many firms, securing a clear market structure framework now—even if imperfect—is preferable to prolonged ambiguity or harsher rules later.