According to a report released by Odaily, Coinbase's recent withdrawal of its support for the US Crypto Markets Structure Act (CLARITY Act) will not derail the legislative process. The report notes that while Coinbase CEO Brian Armstrong prefers "no bill is better than a bad one," he is likely to accept a reasonable compromise. HSBC analysts Daragh Maher and Nishu Singla believe that establishing a legislative baseline is crucial for the stability needed for institutional entry into the market.
HSBC: Coinbase's opposition will not hinder the progress of the US crypto market structure bill.
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