Trump's crypto advisor calls for industry to seize the opportunity and make early compromises through the Market Structure Bill

Recently, Patrick Witt, Executive Director of President Trump's Digital Asset Advisory Committee, publicly urged that the current political window be seized to pass the cryptocurrency market structure legislation, the .

He emphasized that although the bill may require compromises, acting quickly to avoid potentially stricter legislation in the future is crucial.

Witt's post (which states "no bill is better than a bad bill") suggests that missing the current pro-cryptocurrency government opportunity could lead to future punitive regulatory policies pushed by the Democratic Party, similar to the @E5@. Therefore, passing a compromise bill under a Republican-led political environment is far more advantageous than waiting for uncertain future legislation.

It is noteworthy that Coinbase, one of the main donors of the Trump administration, has withdrawn support for the draft version of the market structure bill due to objections to clauses involving tokenized stocks, DeFi privacy protections, and stablecoin yields. This directly caused the Senate Banking Committee to postpone its scheduled hearing.

Currently, the Senate Agriculture Committee has decided to hold a hearing on the bill on , while the Banking Committee has not yet confirmed a new date for the postponed review.

Overall, despite disagreements between the industry and legislators, their fundamental positions remain aligned. The urgent task for lawmakers is to pass clear policy legislation to clarify the regulatory jurisdiction between the CFTC and SEC.

Meanwhile, Armstrong also stated that he will continue to engage closely with the banking sector at forums such as the Davos Forum to seek consensus on core contentious issues like stablecoin yields.

In summary, the core of this debate is no longer about when the market structure bill can be passed, but about providing sufficient flexibility to market participants as early as possible while ensuring effective regulation, to promote healthy industry development.

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