Grading America’s progress toward becoming the crypto capital of the world
One year after publishing an open letter, the crypto law bar grades U.S. progress on regulatory clarity, achieving an overall positive but uneven trajectory.Summary
A year after publishing an open letter outlining steps for the U.S. to become the crypto capital, the crypto law bar assesses progress, grading it largely positive but incomplete. Key achievements include substantial progress in supporting U.S.-based companies (Grade: A-), particularly with stablecoin legislation and integration into traditional finance (TradFi), though comprehensive market structure legislation remains stalled over stablecoin yield disagreements. Progress on cultivating crypto values (Grade: B+) is uneven, balancing advancements in self-custody against lingering tensions between innovation and illicit finance concerns. The business environment (Grade: B) has improved in tone and regulatory engagement, but structural issues like state-by-state fragmentation persist, forcing some reliance on offshore structures. The authors conclude that policy has opened doors, and the next phase depends on builders delivering on crypto's promised use cases, urging consolidation of gains through legislation and commitment to privacy and decentralization.
(Source：CoinDesk)