Crypto Industry Divided Over Market Structure Bill: a16z, Ripple, and Others Take Opposite Stance to Coinbase

Odaily News Coinbase CEO Brian Armstrong has previously indicated plans to withdraw support for the crypto market structure bill (CLARITY), stating he would "rather have no bill than a bad bill." However, several major industry players hold a contrary position to Coinbase. Kraken CEO Arjun Sethi suggested that legacy issues should be resolved through negotiation rather than abandoning years of bipartisan progress. a16z Managing Partner Chris Dixon, Ripple CEO Brad Garlinghouse, and White House Special Advisor on AI and Cryptocurrency David Sacks have expressed similar views, urging all parties to resolve differences before the end of the month. Ledger Global Policy Head Seth Hertlein pointed out that it's hard to imagine a future environment as favorable as the current one. There is a widespread feeling within the industry that if legislation is not completed now, it may either never be achieved in the future or will proceed under very unfavorable conditions. The crypto industry does not want software availability or content publishing permissions to change with each new administration. (The Verge)