"Crypto builders need clear rules of the road," said Chris Dixon, managing partner at a16z Crypto on Thursday.

He added that over the past five years, Republicans, Democrats, and the Trump Administration "have worked closely with members across the crypto industry to protect decentralization, support developers, and give entrepreneurs a fair shot … at its core, this bill does that."

As CoinTelegraph reports, the comments are about the controversial market structure bill, or CLARITY Act, which was due for a Senate markup this week but has been delayed by the Senate Banking Committee today.

"It's not perfect, and changes are needed before it becomes law. But now is the time to move the CLARITY Act forward if we want the US to remain the best place in the world to build the future of crypto," said Dixon.

Coin Center executive director, Peter Van Valkenburgh, was also positive, stating on Thursday that "we're optimistic about where the current market structure draft stands."

However, as Micah Zimmerman reports for Bitcoin Magazine, Coinbase CEO Brian Armstrong said the exchange cannot support the Senate Banking Committee's latest draft of the CLARITY Act, warning that the bill, as written, would leave the U.S. crypto industry worse off than the current regulatory status quo.

In a post on X, Armstrong cited several concerns, including what he described as a de facto ban on tokenized equities, new restrictions on decentralized finance that could grant the government broad access to users' financial data, and provisions that weaken the Commodity Futures Trading Commission while expanding the Securities and Exchange Commission's authority.

"After reviewing the Senate Banking draft text over the last 48hrs, Coinbase unfortunately can't support the bill as written," Armstrong posted.

He also criticized draft amendments that would eliminate rewards on stablecoins, arguing they would allow banks to suppress emerging competitors.

"We'd rather have no bill than a bad bill," Armstrong said on X, adding that Coinbase would continue pushing for a framework that treats crypto on a level playing field with traditional financial services.