HSBC: Coinbase's Opposition Will Not Hinder Progress of US Crypto Market Structure Bill

Odaily News HSBC stated in a released report that Coinbase's recent withdrawal of support for the U.S. crypto market structure bill (CLARITY Act) will not cause the legislative process to fail. The report noted that although Coinbase CEO Brian Armstrong prefers "no bill over a bad bill," he is likely to accept a reasonable compromise. HSBC analysts Daragh Maher and Nishu Singla believe that establishing a legislative baseline is crucial for the stability needed for institutional entry into the market.