A leading compliant platform stated that it cannot support the current cryptocurrency regulation draft introduced by the Senate Banking Committee. The platform listed major concerns: the draft would prohibit the development of tokenized stocks, restrict decentralized finance ecosystems, and weaken financial privacy protections. More importantly, the proposal to shift regulatory authority from the CFTC to the SEC could result in the disabling of stablecoin reward mechanisms, ultimately benefiting traditional banks. The platform's stance is clear — they prefer to maintain the status quo rather than accept a flawed regulatory framework.