Washington's annual blockchain policy gathering just exposed some serious cracks in the industry's united front.

At the association's summit today, crypto leaders couldn't hide their growing split over regulatory strategy. One camp is pushing hard for market structure legislation—willing to accept almost any framework just to get something passed. Meanwhile, another faction is drawing a line in the sand, publicly stating they'd prefer no legislation at all over poorly designed rules.

The "take what we can get" versus "hold out for quality" debate isn't just philosophical anymore. It's shaping how the industry approaches lawmakers and could determine whether we end up with meaningful regulation or a rushed mess that haunts the space for years.