January 14th, the crypto investment community exploded.

A well-known venture capital partner spoke out in support of the "Clarity Act" (Digital Asset Market Structure Act), believing it is a key breakthrough for protecting decentralization and supporting developers. He admitted that the bill is not perfect but emphasized that now is the window for the US to seize the initiative in global crypto competition—missing the Senate Banking Committee review this year could mean waiting another few years.

Before he finished speaking, the CEO of another leading exchange immediately responded with a rebuttal, calling it a "bad bill." The reasons are quite compelling: the draft secretly bans tokenized stocks, imposes privacy-infringing restrictions on DeFi, and also seeks to weaken the authority of the Federal Commodity Futures Trading Commission.

It appears to be a confrontation between policy supporters and practical operators. One side says "even if imperfect, it must be pushed," while the other says "completely unacceptable."

This reflects the real division within the crypto industry—tolerance for regulatory frameworks varies greatly. Some see regulation as an upgrade, while others feel it’s a set of shackles. As for the critical juncture in 2026, how US crypto legislation will unfold remains uncertain for now.