Crypto Industry’s Highly Anticipated Market Structure Bill: Doomed, Say Lobbyists

Many lobbyists believe the crypto industry’s long-awaited market structure bill is destined to fail. This pessimism stems from several factors, including the complexity of the proposed legislation, disagreements among stakeholders, and significant pressure from various parties. Concerns exist that the bill, in its current form, could produce counterproductive results, harming the crypto industry rather than regulating it. They advocate for revisiting the current clauses and engaging in further consultations to ensure an effective and equitable law that balances consumer protection with innovation. Lobbyists emphasize the importance of involving all stakeholders in the drafting process to ensure their interests are fairly represented. Successful legislation requires broad consensus; otherwise, it may lead to negative long-term consequences. It’s also noted that some lobbyists are working to persuade lawmakers to amend certain clauses to secure better outcomes for their clients. But will these efforts succeed in saving the bill from the fate predicted by these lobbyists? That remains to be seen.