Why Wall Street says ‘no bill is better than a bad U.S. crypto bill’
The post Why Wall Street says ‘no bill is better than a bad U.S. crypto bill’ appeared on BitcoinEthereumNews.com.
Industry players have pushed back strongly against the recently released draft of the crypto market structure bill, which lawmakers scheduled for a vote earlier this week. Although the bill aims to deliver long-awaited regulatory clarity, it has failed to win broad support across the sector. The legislation aims to define how digital assets are classified and clarify the roles of regulatory agencies in overseeing the space. It also seeks to outline which products and services crypto companies can legally offer, while prioritizing consumer protection for U.S. citizens. The industry has reacted far more critically to this bill than to earlier crypto legislation, such as the GENIUS Act, which established a stablecoin framework and won broad support. Why the pushback? Hunter Horsley, CEO of Bitwise Asset Management, said regulators have made progress in supporting the crypto industry, but they still leave major clarity gaps. Speaking to CNBC, Horsley highlighted concerns about the bill. He pointed out that certain provisions, such as restrictions on asset tokenization and the ban on stablecoin rewards, pose significant challenges. He added that there is strong interest from large institutions, including Bitwise clients, banks, wealth management firms, and hedge funds, all of whom need clearer regulatory language around DeFi. “There are a lot of firms that want to tokenize securities, equities… some of the world’s largest asset managers. They want, if possible, to know clearly what the rules of the road are.” Horsley emphasized that the situation is no longer driven solely by the crypto industry. Traditional financial institutions are now actively looking to bring their clients into the ecosystem, a shift he believes may be influencing the structure and direction of the current bill. “I don’t think it’s coming from a place of attempting to be counterproductive. I think the reality is that these are complex issues,…
Filed under: News - @ January 16, 2026 7:25 pm