This week, I stepped into my role as the CEO of the Blockchain Association on what could be the most outcome moment in crypto policy history. After years of uncertainty in regulatory and implementation, we have a generational opportunity to promote clear, friendly rules that will change digital properties for the next decade and more.
The convergence of factors that creates this window is not uncommon. We have a pro-crypto administration, bipartisan momentum in Congress around the comprehensive Stablecoin and market structure law, and recent court successes – such as the end of Rule of businessman – These proof positions have been held in the industry for many years. Institutional adoption continues to grow, creating urgent demand for the clarity of regulation from Legacy financial institutions.
But the windows of the opportunity in Washington were about to quickly as they open. And if we take over this moment or watch it slippery it depends more on the ability of the crypto ecosystem to speak with a clear voice.
Read more: CFTC Commissioner Mersinger to be CEO in Blockchain Association
I spent more than three years as a CFTC commissioner watching how the agency level policy was actually implemented. When regulators see a fractured industry advancing the competing agendas, they default on restrictions techniques that are not satisfied with anyone. But when they encounter sophistication, one position on complex issues, I find that the same regulators are engaged. The difference between these outcomes is not only academic, shaping the markets, determining which changes to survive, and decide where global leadership of emerging technologies eventually resides.
This dynamic explains why the blockchain association exists and why our work has not been critical. Consider what we did when we acted at the concert. Our Principles of agreed market structureDeveloped by widespread member cooperation, provides a law plan that protects the change while ensuring consumer protection. And our united opposition to overreaching regulatory measures, as in businessman and Broker Rulemaking Sagas, has helped the courts identify when the agencies exceed their authority.
These successes did not happen in the accident. They emerged from our willingness to prioritize collective development in individual positioning and recognize that the regulation challenges facing this industry are greater than any single company or protocol.
Now we face our biggest trial. As the policy momentum rises and the stakes rise, the temptation of the fragment intensifies. Associations are tempted to pursue narrow benefits. The well -meaning of advocates is to push maximalist sounds that sound appealing but lacking the pragmatic premise needed to be law.
We can’t afford that luxury. The opponents of the crypto industry rely on us to plotter as we approach the end line. They know that a divided industry can lose focus, it can dissolve in endless debate. And they think they saw this movie before where we were close to the success of the policy before it collapsed in a stunning heap.
That is precisely why my experience as a regulator is important for this role. I saw how agencies responded to clear and constructive industry relationships. I understand the difference between positions that are good at conference performances and those that can survive the legislative process. Most importantly, I know that the relationships and credibility needed to achieve long -term policy successes are built by consistency, reliability, and showing a public interest commitment.
The opportunity we have today requires us to be ambitious about our goals and disciplined about our approach. We need a comprehensive law that provides the clarity of regulation for digital properties; It has been clear for years. We need agencies who understand the technology they control, and encourage regulators when they show development. We need international coordination that ensures American change is not impaired by the enclosed arbitration. And we need to maintain consumer protections and financial stability protections that make sustainable growth possible.
They are not competing with priorities. They are a complementary element of a coherent perspective for American leadership in digital possessions.
As I take this responsibility, I focus on ensuring that the Blockchain Association recommends the purpose of its establishment. This means the pursuit of the difficult conversation needed to come up with a real consensus. This means that our shared priorities have been raised to our individual preferences. And that means approaching our work with the seriousness and sophistication that this moment demands.
The crypto industry ends at its start phase. We no longer ask for permission to exist, we discuss the terms of regulation that will allow this technology to further bind its growth. That evolution requires not only technological maturity, but also political maturity. The next 18 months will test if we have formed that time. The stakes may not be higher, but also may not be the opportunity.
Let’s cover it – together.
