Wyoming Blockchain Symposium’s panelists said it was not too late for the United States to catch up with the regulatory frameworks for cryptography in other regions, but warned that inaction could lead to stagnation and the United States falling behind other countries.
“I do not think it’s too late, even with the cryptographic asset markets (Mica) in the European Union (EU),” said Sylvia Favretto, general lawyer and business secretary of Mysten Labs, the developer behind the SU.
However, she added that the opportunity window is “small” and urged immediate action. Stuart Alderoty, Legal Director of Ripple, said:
“If we seize the opportunity now and we realize the structure of the market, I think we win. If we do not get the market structure and the Switch returns to a more hostile policy or regulatory environment, I think there is a very credible risk that we lose to the EU, Apac, or perhaps even in the Middle East.”
Summer Mersinger, CEO of the Blockchain Association, a crypto defense group, warned that the path to regulatory clarity “could be a long process”, while American legislators and regulatory officials reach a consensus on cohesive cryptography policy before the mid-term elections of 2026.
In relation: The key republican senator expects democratic support for the bill on the structure of the American cryptography market
The opportunity window for the clarity of cryptography in the United States is shrinking
The 2024 US elections gave Republicans control of the executive branch and the two chambers of the Congress, giving the Trump administration a substantial room for maneuver in the success of Pro-Crypto regulatory policies.
However, the Republican Party obtained the majority of the congress by a thin margin which has shrunk since 2024.
The Republicans have a majority of seven seats in the House of Representatives and have a majority of eight places in the Senate before the mid-term elections of 2026.
Joe Doll, lawyer general of Magic Eden, Cointelegraph, told Cointelegraph that the Trump administration only had two years.
Doll said that the balance of powers generally moves to the other party in the mid-term elections and warned that a blockage legislature could block cryptographic regulations in the United States.
Marta Belcher, chairman of the Blockchain Association Blockchain Board of Directors, echoes Doll’s warning, adding that regulatory policy is also difficult to go through the legislative assembly in the conduct of the electoral year halfway, because representatives focus on their re-election campaigns.
Review: Cryptographic voters already disrupt the 2024 elections – and it is ready to continue
