A CEO of a leading exchange recently criticized in a financial media interview that a problematic crypto bill is worse than having no bill at all. He bluntly stated that if such a bill is passed, it would be a disaster for American consumers.

The core complaint from this CEO is—traditional banks are playing the "regulatory capture" trick. The banking industry wants to use improper policy measures to stifle competitors (namely the crypto industry) in their infancy. Ironically, these banks' business units are secretly embracing cryptocurrency technology, while colluding with political circles to push for bans, and simultaneously laying out crypto strategies at the business level. This double-dealing approach, in essence, is an attempt to monopolize this piece of the cake.

His logic is clear—rather than passing a crypto bill full of loopholes and harmful to the industry, it’s better to hold off temporarily. The right bill should be balanced and transparent, not a product manipulated by vested interests.