The crypto industry in the US has faced a hostile regulatory environment for many years. However, recent changes signal a shift.
Current State of the Crypto Industry
Kristin Smith, president of the Solana Policy Institute, discusses in the latest episode of the Clear Crypto Podcast how the crypto industry in the US has made significant strides in recent years, changing its strategy for engaging with regulators.
The GENIUS Act and Its Significance
The recently signed GENIUS Act establishes a federal framework for dollar-backed stablecoins. This law is seen as an important victory for the industry and a validation of blockchain's role in the US economy.
The Influence of Lobbying on Regulation
The crypto industry has significantly increased its influence, developing active lobbying in Washington. Smith notes that over time, interest in engaging with policymakers has grown significantly, creating a strong political momentum in the industry.
Changes in legislation and increased coordination provide hope for the positive development of the crypto industry in the US, fostering a more open financial landscape.
