HSBC: US crypto bill likely to pass despite Coinbase opposition

HSBC has stated that while Coinbase has withdrawn its support for the U.S. crypto market structure bill, a compromise may be preferable to no legislation at all. According to CoinDesk, the bank noted that a legal baseline is essential to provide the stability needed for institutional entry. HSBC added that although the current draft is imperfect, it could be more favorable than future amendments under a different administration. Coinbase previously pulled its support for the bill, citing concerns over a potential ban on interest payments for stablecoins.