Crypto mixing with DC politics? For the
longest time, that combination often spelled trouble—think friction, regulatory
fog, and sometimes, downright opposition from the powers that be.
But the ground seems to be shifting
rapidly in 2025. The once-chilly regulatory environment is showing signs of a
thaw, spurred by a new administration’s different tune and a crypto industry
ready to make its voice heard loud and clear inside the Beltway.
This isn’t just quiet diplomacy; it’s an
all-out push. Cryptocurrency advocates are flooding Washington, armed with
arguments, funding, and a sense of urgency. They see a window of opportunity
opening, especially with predictions floating around—even from major industry
players—that meaningful, pro-crypto regulations could start taking shape,
perhaps as soon as this August. It’s a high-stakes moment, potentially setting
the stage for how digital assets integrate into the world’s largest economy.
Binance CEO:
Pro-Crypto Regulations Could Come to the US by August
One of the most prominent voices adding
fuel to the August expectation fire is Binance CEO Richard Teng. Speaking
recently, Teng suggested the US could see new, supportive crypto legislation
emerge by late summer. Teng explained his optimistic view under the Trump
administration, “The new efforts and optimism is very real in the US. So, I
believe the US is going to come out with very enlightened, pro-industry and
smart regulations that support the industry but also manages the risk at the
same time. So you’re probably going to see some of the new legislation coming
through by August this year.” This positive view is contrasted starkly with
what many in the industry perceived as the “Operation Choke Point 2.0”
environment of the previous administration.
Teng sees the shift in the US potentiallyacting as a catalyst globally. As he noted at
the CONVERGE LIVE conference, when the world’s biggest economy signals it wants
to embrace crypto, it prompts other governments to seriously consider their own
approaches. This perspective comes even as the administration’saggressive
tariff policies introduced earlier in the year initially sent shockwaves
through global markets, including the cryptocurrency industry. It highlights a
potentially complex dynamic where trade protectionism coexists with a more
favorable stance on digital asset innovation.
Binance itself is navigating this market
from a position of strength, bolstered by a landmark $2 billion investment from Abu Dhabi’s MGX—the
largest single investment into a crypto firm, paid entirely in stablecoins.
Furthermore, Teng has confirmed Binance isadvising
multiple governments and sovereign wealth funds on building their own national
digital asset reserves and regulatory frameworks, underlining the increasing
global trend towards state-level crypto engagement influenced partly by US
moves.
Crypto
Lobbyists Are Flooding the US
Richard Teng’s optimism isn’t happening
in a vacuum; it’s backed by an unprecedented level of activity from crypto
proponents on the ground in Washington. The industry isn’t just knocking on
doors; it’s practically setting up shop. We’re talking aboutmore
than a dozen distinct groups—from established players like the Digital Chamber
of Commerce, the Blockchain Association, and the Crypto Council for Innovation
(CCI) to newer, more focused entities like the Solana Policy Institute and the
National Cryptocurrency Association (NCA).
This surge reflects a feeling that now is
the time to influence policy. As Miller Whitehouse-Levine, now leading the
Solana Policy Institute, put it, there’s an “absolute torrent” of
legislative and regulatory work happening, and the industry needs “all the
help we could get.” There’s certainly plenty to tackle, with Congress
debating everything from market structure and stablecoin oversight to illicit
finance concerns and even government digital asset reserves.
Of course, having so many players can
lead to challenges. Insiders privately admit the field is getting crowded,
potentially leading to duplicated efforts or diluted messages when engaging
with the finite number of key congressional staff and administration officials.
Funding and membership can also become competitive points. Still, the
prevailing view seems to be that a united front, even across multiple
organizations, is powerful.
Recent wins, like the bipartisan pushback
against a potentially cripplingIRS
rule targeting DeFi, show that coordinated advocacy can yield results. On top
of the traditional lobbying, well-funded political action committees like
Fairshake and grassroots efforts like Coinbase’s Stand With Crypto are flexing
their political muscle, aiming to ensure Congress remains crypto-friendly.
Next On the
Table: A US Stablecoin Bill
So, what’s the most immediate focus of
all this activity? Eyes are firmly fixed on stablecoin regulation. These
digital dollars are seen as a critical bridge between traditional finance and
the crypto world, and getting the rules right is a top priority. Two bills, in
particular, are front and center: theSTABLE
Act in the House and the GENIUS Act in the Senate.
What these two bills are really trying to
do is build a rulebook for stablecoins across the US. They get into the
nitty-gritty—like which companies can actually create stablecoins, demanding
they hold reliable reserves (think cash or safe government bonds), and setting
up oversight. The fact that both pieces of legislation actuallymade
it through their House and Senate committees this spring, and with lawmakers
from both parties agreeing, was a pretty big step.
Regardless of the exact timing, the
momentum behind stablecoin legislation is undeniable. The GENIUS Act’s proposed
dual-oversight structure—letting smaller issuers stick with state regulators
while larger ones fall under federal watch—seems designed to balance innovation
with stability.
For a minute there, the buzz was that
Senate Majority Leader John Thunemight
push for a full Senate vote on the GENIUS Act before Memorial Day. That talk
has quieted down a bit, making the exact timing fuzzy now.
Still, getting any stablecoin bill signed
into law would be huge for the cryptocurrency industry. It would signal that
the US is finally getting serious about fitting digital assets into the
financial picture and could be the first domino to fall, leading to clearer
rules for other parts of crypto later on.
This article was written by FL Contributors at www.forexlive.com.