The release of the 278-page bipartisan cryptocurrency market structure bill—the CLARITY Act—has sparked criticism because it may favor large, established companies like Coinbase and Circle. Critics, including entrepreneur Aaron Day, argue that the bill's strict compliance requirements for real-time monitoring, registration, and custodial institutions impose high costs that only large firms can bear, thereby consolidating their advantages. The proposal also introduces rules that could require DeFi developers to register, challenging the industry's permissionless ethos and raising concerns about stifling innovation and contradicting the fundamental principles of Bitcoin.