The window to pass the U.S. crypto market structure bill is open right now—but it's fragile. According to Bernstein's latest take, the momentum is there, yet a critical hurdle threatens to block everything: stablecoin rewards. Banks are digging in their heels hard over yield-like returns on stablecoins, viewing them as competitive threats to traditional financial products. This standoff could easily derail the entire legislative push. The clock is ticking as policymakers balance innovation with financial stability concerns. Whether crypto market reform actually materializes depends on how this stablecoin compensation debate plays out in the coming weeks.