Benchmark: This week is a watershed for crypto amid market structure bill vote

U.S. investment bank Benchmark has identified this week as a crucial watershed moment for the cryptocurrency sector, CoinDesk reported. Benchmark noted that the U.S. Senate is preparing to vote on the crypto market structure bill, known as the CLARITY Act. The bank believes this legislation could be the starting point for fundamentally resolving the long-standing regulatory vacuum in the industry. Furthermore, Benchmark explained that the bill is particularly important because it could mitigate the risk of regulatory reversal, such as a future administration changing the current government's stance on crypto.