Overregulation of the crypto industry would negatively impact markets and gut decentralized finance (DeFi), according to Michaël van de Poppe.
The stalling of the CLARITY crypto market structure bill in the United States Congress could ultimately benefit the crypto industry, according to market analyst Michaël van de Poppe, who warned that the legislation in its current form risked overregulating decentralized finance and related markets.
Van de Poppe cited crypto exchange Coinbase withdrawing support for the bill on Wednesday and Coinbase CEO Brian Armstrong’s X post listing several concerns with the most recent version of the bill.
The issues included a “de facto ban” on tokenized stocks, government access to user records on decentralized finance (DeFi) platforms and prohibiting yield-bearing stablecoins, Armstrong said. Van de Poppe said:
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