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Industry leaders criticize the proposed cryptocurrency market structure bill for lacking clear provisions on decentralized finance (DeFi) and asset tokenization. Bitwise CEO Hunter Horsley specifically highlighted restrictive clauses that could hinder institutional adoption. Coinbase CEO Brian Armstrong has withdrawn support for the bill, believing it could stifle competition and harm consumer interests, such as higher yields on stablecoins. Although negotiations are ongoing, the opposition remains strong due to the highly volatile cryptocurrency market (with a market cap of approximately $3.23 trillion), concerns that the bill could pose risks to pensions, and the potential for fraud.