Coinbase Global Inc. (NASDAQ:COIN) is pulling back its support for a major U.S. crypto market structure bill, but HSBC Holdings (NYSE:HSBC) analysts say the legislation isn’t dead yet.

No Bill Or Compromise Bill?

HSBC says a “reasonable compromise” is still on the table despite CEO Brian Armstrong’s “no bill is better than a bad bill” stance.

The bank argues that legislative clarity is the only way to unlock massive institutional adoption from hedge funds and corporations, CoinDesk reported on Thursday.

The bill aims to end the SEC’s aggressive tactics by clearly defining where the SEC ends and the Commodity Futures Trading Commission’s (CFTC) begins.

Analysts expect incremental wins…

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