The cryptocurrency industry is divided on the market structure bill: Kraken, Ripple, a16z, and others hold positions contrary to Coinbase

According to The Verge, Coinbase CEO Brian Armstrong previously stated that he intends to withdraw support for the Cryptocurrency Market Structure Bill (CLARITY), saying, "I would rather have no bill than a bad bill." However, several key industry players hold a position contrary to Coinbase's. Kraken CEO Arjun Sethi stated 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 AI and Cryptocurrency Special Advisor David Sacks also expressed similar views, urging all parties to resolve their differences by the end of the month.

Ledger's Global Policy Head Seth Hertlein pointed out that it is hard to imagine whether there will be as favorable an environment in the future. The industry generally feels that if legislation is not completed now, it will either be impossible to achieve in the future or will occur under very unfavorable conditions. The cryptocurrency industry does not want the availability of software or the rights to publish content to change with each new administration.