Core Viewpoint - The cryptocurrency industry is facing criticism for its resistance to the Senate's cryptocurrency market structure bill, with calls for compromise to avoid worse regulations in the future [1][4]. Group 1: Industry Reactions - Patrick Witt, executive director of the President's Council of Advisors for Digital Assets, emphasized that "no bill is better than a bad bill," reflecting concerns from industry leaders like Coinbase CEO Brian Armstrong regarding the Senate's proposed legislation [2]. - Coinbase has withdrawn its support for the Senate's cryptocurrency market structure bill, citing issues with provisions related to tokenized equities, decentralized finance, and stablecoin rewards [2]. - Galaxy Digital has also criticized the bill, labeling it as "the single largest expansion to financial surveillance authorities since the USA PATRIOT Act" [3]. Group 2: Future Outlook - Witt predicts that a cryptocurrency market structure bill will eventually be enacted, stating, "It's a question of when, not if," and warns against the assumption that the industry can operate indefinitely without a regulatory framework [4]. - He urges the cryptocurrency industry to seek a compromise with the current pro-crypto administration, suggesting that future regulations could be more unfavorable under a different administration [4]. - Witt cautions that while the CLARITY Act may not be perfect, a future Democratic version could be significantly worse, advocating for continued efforts to improve the current proposal [5].