Coinbase (COIN) pushback notwithstanding, U.S. crypto market structure bill still on track, HSBC says
Coinbase’s (COIN) decision to end support for U.S. market structure legislation won’t derail the process, investment bank HSBC said, suggesting that while CEO Brian Armstrong prefers no bill over a bad bill, he would probably accept a sensible compromise.
The report maintained that a legislative floor is essential to providing the stability required for institutional entry.
“Coinbase withdrawal of support is not a death-knell for U.S. market structure legislation,” analysts Daragh Maher and Nishu Singla said in the Tuesday report.
At its core, the proposed law is a high-stakes attempt to end the regulation-by-enforcement era that has defined the U.S. crypto landscape for years. By drawing a clear line between the Securities and Exchange…
