The US urgently needs to establish regulations for crypto assets, and delaying it risks falling behind in global competition.

A panel member at a blockchain symposium in Wyoming said the US still has a long way to go to catch up with other countries' cryptocurrency regulatory regimes.
However, he warned that if swift legislative action is not taken, the country could stagnate or fall behind in global competition.
On the 20th (local time), Mysten Labs, the developer of the Sui network,
Sylvia Fabreto, general counsel and company secretary at Labs
Favretto said, "The proposed European Union (EU) Markets in Cryptocurrencies Regulation (MiCA) will be implemented.
"However, the window of opportunity is very narrow and immediate action is required," he said.
Stuart Arudaro, Chief Legal Officer of Ripple
Stuart Alderoty said, "If we seize this opportunity and get the market structure right, we can win. But if we don't get the market structure right, we'll go back to a hostile regulatory environment."
"If we do that, we face the very real risk of falling behind the EU, the Asia-Pacific region and even the Middle East."
Blockchain Association (Blockchain Association)
Summer Mersinger, CEO of the Association, said, "It's important for the U.S. Congress and regulators to implement a coherent cryptocurrency policy ahead of the 2026 midterm elections.
"The process of agreeing on this could be long and complicated," he said, pointing out that the path to regulatory clarity will not be easy.
In the 2024 US elections, the Republican Party will take control of the executive branch and both houses of Congress, and the Trump administration will
This gave the House considerable leeway to push for crypto-friendly regulatory policies. However, Republicans maintain a slim majority, and that margin narrows further after 2024. Currently, Republicans hold the House of Representatives.
The Democratic Party only holds a slim advantage of seven seats in the House and eight seats in the Senate, a precarious situation ahead of the 2026 midterm elections.
Joe Doll, general counsel at Eden, said the Trump administration only has two years to develop meaningful cryptocurrency regulation.
"Power is generally likely to shift to the other party, and a gridlocked Congress could stall regulatory progress," warned Marta Belcher, chair of the Blockchain Association board of directors.
Arta Belcher expressed similar concerns, saying, "With the midterm elections approaching, cryptocurrency regulatory policies will have an even harder time passing through the legislative process as lawmakers focus on their re-election campaigns."
"It will," he added.