Trader says delay in US crypto market structure bill is a positive development

Crypto trader Michaël van de Poppe has argued that the halt in progress on the U.S. crypto market structure bill (CLARITY) is a positive development for the market and the industry as a whole, Cointelegraph reports. He stated that the bill would have had a negative impact on the market if it had passed in its current form and that the opportunity for renewed discussions between authorities and the industry is a positive sign. Van de Poppe compared the situation to the European Union's Markets in Crypto-Assets (MiCA) regulation, which underwent several rounds of negotiation and revision before its passage. Last week, Coinbase withdrew its support for the current bill, calling it problematic. The White House then reportedly indicated it would also withdraw its support if Coinbase did not re-engage in discussions. However, Coinbase CEO Brian Armstrong has refuted these claims, stating that constructive talks are ongoing. Bipartisan renegotiations of the bill are now reportedly underway.