Coinbase CEO Brian Armstrong has attributed the stalled progress on crypto market structure legislation to banking trade groups, rather than individual banks. Speaking at the World Liberty Forum in Palm Beach, Armstrong noted that these groups view the crypto industry with a zero-sum mindset, believing that for banks to succeed, crypto must fail. This perspective has hindered negotiations, despite individual banks seeing crypto as an opportunity. Armstrong highlighted that banking trade groups have been representing the industry in meetings with the crypto sector, following the collapse of the Senate Banking Committee's efforts to advance market structure legislation. The latest meeting saw the banking industry maintain its stance against stablecoin rewards. Armstrong anticipates a compromise in future legislation that could offer new benefits to banks, although he did not provide specifics. He emphasized that while small and medium-sized banks are more concerned about deposit flight to larger banks, major banks are increasingly embracing crypto, with Coinbase supporting infrastructure for several of the world's largest banks.