The crypto industry is enjoying unprecedented political goodwill in Washington, with executive orders, a crypto-friendly SEC chair, and the first federal stablecoin law (the GENIUS Act, July 2025). However, industry leaders warn that most of these gains rest on executive actions and agency guidance, which can be reversed by the next administration without congressional approval. The CLARITY Act, which would clarify jurisdiction between the SEC and CFTC, has passed the Senate Banking Committee but still needs a full Senate vote. The Blockchain Association emphasizes that lasting legislative certainty is essential to attract the next wave of institutional investment.
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