When the crypto-tsar of the Trump administration, David Sacks, recently organized a press conference to announce a new working group in the congress to advance the regulation of cryptocurrencies, many lovers of digital assets have not been impressed and disappointing.
“There were many people on X who felt like it was not, you know, a breathtaking announcement,” said Sacks on a podcast a few days later, referring to the social media formerly known as the name of Twitter. But Sacks said the fact that the White House and key members of the Congress are committed to adopting key cryptography legislation over the next year, perhaps within six months, were worth celebrated. “We have never had that before, so it’s quite monumental,” he said.
Sacks’ defensive highlights a new reality in Washington: after having largely elected Trump and other friendly Crypto legislators, the industry is embarrassment, impatient and eager to cement its influence in traditional policy and financial systems.
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“Time is essential,” said Ji Hun Kim, president and acting CEO of the Crypto Council for Innovation during a recent audience of the Chamber Committee entitled: “A golden age of digital assets: trace a path to follow.”
The crypto industry has marked early victories since Trump took office, including the repeal of an accounting rule of the American Securities and Exchange Commission and Exchange and Exchange and Exchange and Exchange and Exchange and Exchange An executive decree By the president ordering a working group to study and propose modifications to cryptographic regulations as well as the possible training of a strategic government reserve of cryptocurrencies within 180 days.
While industry calls for more substantial action, some cryptographic companies seek to exercise their influence by trying to punish the old enemies.
Tyler Winklevoss, co-founder of the Crypto Exchange Gemini, said that his business will not engage any MIT graduate as a punishment for the former president of the SEC school, Gary Gensler, to teach lessons.
“Even the trainees for our program of summer trainees,” said Winklevoss on X. This decision has occurred after the CEO of Coinbase announced that his cabinet would not work with law firms that hired one Former deputies of peopleler who had committed “bad actions” towards cryptographic industry. The dry of peopleler was the most aggressive financial regulator to try to control the cryptography industry.
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The Congress has held several hearings in recent weeks when Cryptos supporters have disseminated grievances on how they were treated during the Biden administration, in particular the way regulators would have forced banks to reduce ties with cryptographic companies.
And the new republican management of the Sec has criticized the past performance of the agency under peopleler and promised a new day, while clearly indicating that the day will not be tomorrow.
“It took us a long time to get into this mess,” said SEC Commissioner, Hester Peirce, who heads a new crypto working group, in a long press release on the agency’s website. “Be patient.”
The SEC recently asked a Federal Court to suspend the current disputes against Binance, the largest exchange of cryptocurrency in the world, because leadership is now hindering previous application measures.
Crypto bags and friendly legislators expect two laws to become the law. One would establish regulations and reserve the requirements for emitters of Écunines, a type of crypto that has exploded in popularity and whose value is generally linked to the dollar or other traditional currencies.
The other element of legislation aims to establish clear rules on the functioning of crypto exchanges and other companies, as well as to decide which digital assets are regulated as securities, such as actions, and which should be considered as products , like gold or oil. Titles are generally faced with stricter regulations.
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Similar legislation has stalled in recent years, but many in the cryptographic industry expect large bipartite support this time. This is due in part to the strong political expenses of the cryptographic industry. FAIRSHAKE, the Crypto Super PAC which was one of the greatest spending on last year’s elections, recently said that it had already raised a huge war box for the middle of next year. One of the largest victories in the crypto industry last year was to help eliminate former senator Sherrod Brown, a Ohio Democrat and Crypto review that led the banking committee of the banking committee Senate.
“The Democrats have received the message,” said crypto investor Anthony Scaramucci, who was briefly director of communications during Trump’s first mandate, “they do not want to be in the 2026 campaign with a cryptographic army against them. “”
Like the prices of cryptography, the popularity and influence of industry are subject to wild increases and falls. A few years ago, the Super Bowl was filled with celebrities making advertisements for cryptographic companies and the Sam Bankman Frit magnate had easy access to the high rooms of power.
This popularity and this influence decreased after the collapse of the Society of Freed Bankman in the midst of massive criminal fraud, a market collapse and other scandals – before returning with Trump’s victory.
But while showing a united front for elections, debates on cryptographic legislation and other political proposals are likely to expose the lines of lack between the many different tribes of industry and strong and eccentric personalities.
The CEO of Ripple, for example, provoked waves when he said that he would like to see an American government reserve of crypto including several digital assets rather than Bitcoin, the most popular cryptocurrency in the world. The idea is a non-start for many pure and hard of Bitcoin.
And a new JPMorgan report underlined how some of the proposals of the legislation on Stablescoin are linked to the way in which these coins contain reserves could set an “important challenge” to attach, the greatestcoin in the world.
The CEO of Tether, who recently moved to Salvador El-Friendly, replied on social networks by contesting the bank’s conclusions and calling his “salty” analysts.
