White House crypto adviser urges industry to resolve bill disagreements

David Sacks, the White House adviser for AI and cryptocurrency, has urged the industry to resolve its disagreements over a crypto market structure bill, stating on X that its passage is near. He added that now is the time to secure the industry's future and establish a clear path forward. The call for unity follows Coinbase's withdrawal of support for the legislation. The exchange cited several issues, including a de facto ban on tokenized stocks, provisions that could block DeFi, a weakening of the Commodity Futures Trading Commission's (CFTC) authority in favor of the SEC, and the potential for a ban on stablecoin reward features. Consequently, a Senate markup session on the bill, which was scheduled for Jan. 15, has been postponed.