Benchmark has issued a warning that the failure to pass a comprehensive crypto market structure bill could limit U.S. cryptocurrency valuations. The absence of clear regulatory frameworks is expected to maintain a regulatory risk premium, which could favor Bitcoin and infrastructure projects. However, this situation may leave exchanges and decentralized finance (DeFi) platforms facing structural constraints. The report suggests that without legislative clarity, the U.S. crypto market could struggle to compete globally, as regulatory uncertainties continue to pose significant challenges. This could potentially hinder innovation and growth within the sector, particularly affecting exchanges and DeFi initiatives.