The election changes Washington. The work on crypto continues

Democrats are projected to take control of both chambers of Congress, bringing new leadership to Capitol Hill. The next Congress inherits an unfinished assignment: establishing clear, lasting rules for digital assets that protect consumers and ensure American innovation continues to thrive.

At Blockchain Association, which represents more than 100 U.S.-based crypto organizations, we remain committed to working with both parties to ensure the United States leads the next era of financial innovation. This technology advances every day; its continued development is certain. The only question is whether American policy will keep pace.

Digital assets have taken on a partisan veneer over the past few years, but the promise of this technology is firmly nonpartisan. And, frankly, the future of American finance is too important to be mired in traditional political arguments. Americans want a financial system that works better for them and gives them greater control over their money. Entrepreneurs want the chance to compete under rules they can understand. Protecting consumers and keeping jobs and investment in the United States should give lawmakers in both parties a reason to act.

Millions of Americans already use and invest in digital assets. Stablecoins can make moving dollars across borders faster and more affordable, while tokenization offers new ways to make capital markets more efficient. A new Ipsos survey found that 22% of Americans have owned or used crypto, including 24% of Republicans and 21% of Democrats. Across party lines, the people Congress serves are already using this technology.

Their constituents deserve protection. They should be able to expect safeguards against fraud and misconduct, along with clear rules for the businesses serving them. Their interests should be at the center of the policy debate. As lawmakers argue over jurisdiction and legislation, Americans are already participating in this market. Congress owes them a framework that provides robust consumer protections while encouraging competition.

Congress has already demonstrated what bipartisan cooperation on crypto can achieve. The GENIUS Act became law, and the CLARITY Act passed the House with support from 216 Republicans and 78 Democrats. That record gives the next Congress a foundation to build on.

The Senate's failure to advance market structure legislation in September left important work unfinished. When Democrats take the gavel in January, they will inherit a strong foundation for further action. With a Republican administration and the Senate's legislative hurdles, delivering lasting regulatory clarity will require continued cooperation across party lines.

The unfinished policy agenda is substantial. At the top of that agenda is comprehensive market structure legislation that clarifies the roles of the SEC and CFTC and establishes workable rules for the issuance and trading of digital assets, including CFTC oversight of digital commodity spot markets.

Congress must also protect open-source developers who do not hold or control customer funds. These builders deserve protections that distinguish software development from financial intermediation. It’s critical to keep developers and the technology they build here in the United States.

Americans also deserve workable tax rules that reflect how digital assets actually work. That means relief from burdensome reporting requirements for small, everyday transactions and treating staking rewards like other newly created property, with taxation occurring upon disposition. Congress must provide lasting certainty through clear, workable legislation.

Important work is also underway outside the halls of Congress. Treasury and federal banking regulators are busy putting the GENIUS Act into practice, while the SEC and CFTC are advancing initiatives that will shape the regulatory landscape for digital assets.

Blockchain Association will continue working with lawmakers in both parties and engaging directly with federal regulators. We will keep fighting for clear, durable rules that protect Americans and give innovators the confidence to build and compete in the United States. Our commitment to this industry and its future is unwavering, regardless of who holds power in Washington.

The election may change who leads Washington, but America's opportunity to lead the future of finance remains. We intend to make sure that future is built here.