The compromise proposal for the crypto market structure bill has sparked industry divisions, with Coinbase expressing dissatisfaction with the stablecoin yield terms.

The compromise proposed by US senators this week regarding the stablecoin rewards section of the Clarity Act has sparked mixed reactions within the crypto industry. Coinbase has expressed its dissatisfaction with the latest compromise text to senators' staff but has not yet publicly stated its opposition. The proposal was presented to crypto industry stakeholders on Monday, with some expressing dissatisfaction while others said the outcome was better than expected. The proposal would instruct some regulatory agencies to develop rules to clarify the regulatory approach for rewards-based activities, but industry concerns exist that regulators might set subjective standards. Furthermore, the text could limit companies' ability to link rewards to the volume of stablecoin transactions. During an industry conference call this week, Coinbase diverged from other stakeholders, with some companies arguing that giving up certain stablecoin rewards is too costly, while others believe that losing the Clarity Act poses a greater risk to the overall legislative framework of the crypto industry. Previously, news of the compromise had already impacted the market, with Circle's stock price falling 20% ​​on Tuesday before recovering slightly on Wednesday. White House crypto advisor Patrick Witt criticized related predictions on the X platform as "uninformed" and stated that "everything will be resolved." The final text is expected to be released by the end of this week or early next week.