A certain compliant platform withdraws support for the main cryptocurrency legislation. What does this mean for the industry?

2026-01-15 03:20:33

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Source: CryptoNewsNet Original Title: Coinbase pulls support for major crypto bill. Here’s what it means for the industry Original Link: https://cryptonews.net/news/legal/32279571/ A certain compliance platform has decided to no longer support the Senate’s Crypto Market Structure Act, which could mean that no meaningful legislation will be passed in this Congress. According to Jaret Seiberg, a financial policy analyst at TD Cowen:

“We believe this could lead to the failure of market structure legislation in this Congress,” Seiberg wrote in a memo to clients on Wednesday. He indicated that this move typically suggests that supporters believe the bill can no longer be salvaged through negotiations. “We believe that delays are detrimental to cryptocurrencies and beneficial to banks,” Seiberg added.

This compliance platform has been one of the companies involved in shaping this legislation, which aims to clarify how cryptocurrencies and exchanges should be regulated in the United States. However, the company’s leadership stated that the latest draft released Monday night contains “too many issues” to garner the company’s support.

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