Crypto Gains Ground in D.C. Amid Regulatory Deadlock
Key Summary
Crypto industry leaders are optimistic about their progress in Washington, despite the Clarity Act's failure. Kristin Smith, president of the Solana Policy Institute, argues that rules implemented before summer 2028 will be more durable due to the Congressional Review Act. The industry has already won several key regulatory victories, including the Genius Act and a change to the IRS broker rule. However, challenges such as the president's family crypto business and banks' lack of full onboarding remain to be addressed.
Crypto Momentum Gains Momentum in Washington Ahead of Summer 2028 Deadline
The crypto industry is gaining momentum in Washington, despite the Clarity Act's failure. Kristin Smith, president of the Solana Policy Institute, argues that rules implemented before summer 2028 will be more durable due to the Congressional Review Act. The industry has already won several key regulatory victories, including the Genius Act and a change to the IRS broker rule.
However, challenges such as the president's family crypto business and banks' lack of full onboarding remain to be addressed. Smith believes that traditional finance and overseas firms will build on finished rules, making them harder to undo. In contrast, Bitwise Chief Investment Officer Matt Hougan concedes that crypto's regulatory future depends on agencies and a new administration could reverse their rules from January 2029.
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What's Next
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Challenges Ahead
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Regulatory Outlook
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Industry Outlook
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