The window to pass the significant cryptocurrency law in the United States is quickly closing, and if missed, the industry can deal with long -term consequences, according to Marta Belcher, President of the Blockchain Association and the Filecoin Foundation.
Speaking with this week’s episode of Cointelegraph’s Decentralized Podcast, Belcher encouraged lawmakers and industry leaders to act before the 2026 election cycle threatened to reduce the current momentum.
Crypto law is earlier compared to later
Belcher said that the law was “completely critical” to clarify the key elements within the industry were passed before the beginning of next year.
“When the midterms happen, we don’t really know if Congress will be friendly to crypto or if there will be a backlash.”
Belcher pointed out the hostile environment of the previous administration, when the Securities and Exchange Commission under Gary Gensler and the Biden Administration brought suits against almost every major token, as a stories of caution.
Related: US senators asked Meta’s Stablecoin plans in the middle of the Genius Act debate
“It’s hard to overstate how much the industry has gone overseas as a result … You want to be crazy to start a cryptocurrency project in the US at that time,” he said.
“I really hope that Tides will change when we have a law that makes it possible to operate here.”
What is on the table
Currently, both Stablecoin and greater market structure laws are advancing Congress, with a potential vote on Stablecoins that is expected unconditionally. But Belcher warns that those who rely on post-summer movement are dangerous.
“There are many reasons to worry about waiting until the end of August is over. You just don’t know what other priorities will need,” he said. “We really do, really need to do it this year.”
The law will establish a clear path for compliance – something that has many crypto projects. Belcher emphasized how most industry participants were “willing to do a lot.”
“They just want to know what they should do to obey,” he said. And to get there, he also emphasized the need for compromise throughout the industry:
“This law really exists, in my point of view. It won’t be perfect … but we all have to be prepared to be together and do what needs to be done.”
Listen to full communication with the latest phase of Decentralized in cointelegraph In cointelegraph podcasts Page, Apple podcast o Spotify. And don’t forget to check the entire cointelegraph lineup of other shows!
Magazine: Legal Panel: Crypto wants to overthrow banks, now it becomes them in the stablecoin fight
