Bernstein: Bank opposition is key hurdle for US crypto market structure bill

Bernstein has analyzed that the chances of the U.S. crypto market structure bill passing are weakening amid intensifying conflict between the banking and crypto industries, The Block reports. According to the investment firm, the current period represents a critical window of opportunity for the legislation to be approved. However, Bernstein noted that growing opposition from the banking sector, particularly regarding stablecoin compensation provisions, has become the biggest variable affecting the bill's passage. The bill has passed the House of Representatives and is now under review in the Senate, with a target for approval in the first quarter.