As the United States navigates a transition in leadership, lawmakers and cryptocurrency industry leaders are advocating for a well-defined regulatory framework to ensure the country remains a global hub for digital assets.
Industry leaders push for regulatory clarity to maintain US competitiveness in digital assets.
On February 11, the House Financial Services Committee's Digital Assets, Financial Technology, and Artificial Intelligence Subcommittee will host a hearing titled “A Golden Age of Digital Assets: Charting a Path Forward.” This session will feature key industry experts, including Jose Fernandez da Ponte (PayPal), Jonathan Jachym (Kraken), and Timothy Massad (Harvard University), discussing the urgent need for comprehensive digital asset policies.
Regulatory Gaps Threaten US Leadership
In his testimony, Ji Hun Kim, President and Acting CEO of the Crypto Council for Innovation (CCI), emphasized that major global players—including the European Union, the United Kingdom, Japan, and Singapore—have made significant regulatory progress, putting the US at risk of losing its competitive edge.
To strengthen the nation’s leadership in digital assets, Kim outlined four key legislative priorities:
✅ Enacting comprehensive market structure legislation
✅ Passing stablecoin regulatory frameworks
✅ Enhancing collaboration between the SEC and CFTC
✅ Supporting decentralized finance (DeFi) and individual empowerment
New Administration, New Regulatory Direction?
Legal experts, such as Coy Garrison from Steptoe law firm, are calling for the rollback of restrictive policies implemented under the previous administration. He argues that agencies like the SEC, CFTC, and FDIC must work to attract crypto businesses back to the US rather than drive them offshore.
Garrison also highlighted the need for Congress to oversee spot market digital asset trading and urged the government to reconsider its legal actions against crypto exchanges like Coinbase, Binance, and Kraken. Instead of litigation, he advocates for a structured regulatory pathway for crypto firms to register and operate within the US.
The Road Ahead
As regulatory discussions heat up, all eyes will be on the upcoming House Financial Services Committee hearing to see how policymakers shape the future of digital assets in the US. Will this mark a turning point for crypto regulation, or will uncertainty continue to drive businesses overseas?
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