Panelists at the Wyoming Blockchain Symposium stated that it’s not too late for the United States to align with the crypto regulatory frameworks found in other regions, although they cautioned that failure to act could result in stagnation, putting the US at a disadvantage compared to other nations.
“I don’t think it’s too late, even with the Markets in Crypto Assets (MiCA) in the European Union (EU),” said Sylvia Favretto, general counsel and corporate secretary at Mysten Labs, the company behind the Sui network, said.
She emphasized that the window of opportunity is “small” and called for immediate action. Stuart Alderoty, chief legal officer at Ripple, remarked:
“If we take advantage of the opportunity now and structure the market correctly, I believe we will prevail. Conversely, if we fail to establish the right market structure and policies revert to a more restrictive environment, we face a significant risk of falling behind the EU, APAC, or even the Middle East.”
Summer Mersinger, CEO of the Blockchain Association, a crypto advocacy group, cautioned that the journey toward regulatory clarity “might be a lengthy process,” as US lawmakers and regulators strive to reach a consensus on a unified crypto policy before the 2026 midterm elections.
Related: Key Republican senator anticipates Democratic backing for US crypto market structure bill
The window of opportunity for crypto clarity in the US is closing
The 2024 US elections granted Republicans control over the Executive Branch and both houses of Congress, providing the Trump administration with significant latitude to implement pro-crypto regulatory frameworks.
Nonetheless, the Republican Party obtained a narrow majority in Congress that has diminished since 2024.
Republicans currently hold a majority of seven seats in the House of Representatives and an eight-seat advantage in the Senate as they approach the 2026 midterm elections.
Joe Doll, general counsel at the non-fungible token (NFT) platform Magic Eden, stated that the Trump administration has just two years to implement significant crypto regulations.
Doll noted that power dynamics typically shift in midterm elections and warned that a deadlocked legislature could impede crypto regulations in the US.
Marta Belcher, board president of the Blockchain Association, echoed Doll’s sentiments, mentioning that regulatory policy tends to face hurdles in the lead-up to election years, as representatives concentrate on their re-election efforts.
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