I've been hearing lately that the market structure bill isn't making much progress, but the reason is surprisingly simple.

As pointed out by the CEO of a major exchange, it seems that the banking industry associations are the main cause of this stagnation. While the crypto asset industry is calling for clearer regulations, traditional financial institutions are resisting. This ultimately reveals a pattern of protecting vested interests.

It's a debate about market infrastructure, but from the banks' perspective, they are probably concerned that crypto assets could pose systemic risks. At the same time, they can't completely halt the growth of the digital asset market, so they're caught in a dilemma.

Such policy uncertainties are actually negative for the entire market. Both institutional and individual investors find it difficult to act with unclear regulatory prospects. That's why the whole industry is waiting for the bill to be passed quickly.

How much the banking industry associations are willing to compromise will likely be the focus moving forward. Once the regulatory framework is established, the market can move on to the next step. Until then, this deadlock is expected to continue.