Industry leaders criticize the proposed cryptocurrency market structure bill for its lack of 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 Coinbase CEO Brian Armstrong has withdrawn support for the bill, believing it could stifle competition and harm consumer interests, such as higher yields on stablecoins.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 still ongoing, the high volatility of the cryptocurrency market (with a market cap of approximately $3.23 trillion) has led to strong opposition, with concerns that the bill could pose risks to pensions and contain fraud vulnerabilities.