Interesting detail that Armstrong highlights: banking trading groups might be behind the current deadlock surrounding the market structure law. This kind of political dynamic isn't always visible in the reporting, but it does provide insight into how traditional financial players are trying to influence regulations.

Important to know: CoinDesk, which reports this information, operates under certain structural conditions. The media outlet is part of Bullish, an institutional-focused platform for digital assets. This means that CoinDesk staff, including journalists, could potentially receive stock-based compensation from Bullish. So it's good to keep this context in mind when reading their reports.

Editorial independence is highly valued at CoinDesk—they adhere to strict editorial guidelines and principles focused on integrity and impartiality. But as always: understanding the underlying structure is useful.

Armstrong's comment about banking trading groups is an interesting angle on the regulatory discussion. It suggests that opposition to certain market structure measures isn't so much coming from crypto players, but rather from traditional financial actors seeking to protect their position.