Attention has been drawn to the latest developments behind the scenes of negotiations on the RUU struktur pasar kripto. It turns out the main obstacle is not individual banks, but banking trading groups that have a zero-sum mindset toward the crypto industry.

One senior figure from a major crypto exchange has just disclosed this at an industry forum last week. According to him, banking trading groups view crypto as a threat rather than an opportunity. They negotiate with the mindset that if crypto wins, banking must lose.

Even more interestingly, other data on the position of the banking industry shows something different at the individual level. Small and mid-sized banks are actually more worried about deposit flight to large banks, not to stablecoin issuers. Meanwhile, large banks are becoming increasingly open to crypto and its infrastructure.

Banking trading groups have represented the industry in a series of meetings with the White House since the effort to push this legislation failed last month. The latest meeting last week showed that they are still maintaining their demand that the bill block stablecoin rewards. The next meeting is scheduled for next week.

There is an expectation that some kind of compromise will be reached in which banks will receive new benefits under the latest draft legislation. However, the specific details are still unclear.

What’s quite interesting is the trend within the large banking industry itself. They are actively recruiting talent focused on blockchain and crypto. In fact, crypto infrastructure already supports some of the world’s largest banks.

In short, market reality has changed. Regulated stablecoin AS already exists and is functioning. The question is no longer whether this will happen, but how the involved parties choose to view it—as an opportunity or a threat. Banking trading groups still seem to prefer the latter perspective.