U.S. regulators are stepping in to set crypto policy as legislation remains stalled, Reuters reported Tuesday (Aug. 18), a shift that has raised industry concerns that rules issued this way could be revoked by future administrations.
Cryptocurrency companies have spent hundreds of millions of dollars lobbying for legislation intended to provide the industry with more stable legal status. But time is running out for lawmakers to reach a deal before the new Congress begins in 2027, according to Reuters.
That legislative gap has left the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to fill the void. Reuters notes the SEC is working on a rule aimed at addressing crypto market structure, though the report did not detail its full scope.
Industry lobbying has focused on securing a comprehensive legal framework through Congress rather than relying on agency rulemaking, which can be altered or reversed when political leadership changes. The absence of a legislative deal means crypto companies currently depend on regulatory approaches that may not have the same durability as statute.
