The debate over the CLARITY Act has exposed a fundamental rift within the crypto ecosystem. While some industry players view the proposed legislation as a necessary step toward sensible regulation, others—including major exchanges—are pushing back hard.

The core complaint? Banks have had too much influence over how these rules are being shaped. Smaller platforms and advocates argue that traditional finance's fingerprints are all over the bill, and it doesn't reflect what the crypto community actually needs.

Meanwhile, a leading exchange has made its position crystal clear: they're out. Their "no" signals a real fracture. Some see this as principled resistance to overregulation. Others view it as the industry shooting itself in the foot—arguing that constructive engagement beats flat rejection.

The tension raises uncomfortable questions: Can crypto find common ground on regulation? Or will internal divisions make it easier for lawmakers to impose solutions nobody really wants? The CLARITY Act debate suggests the industry still hasn't figured out how to speak with one voice when it matters most.