A positive path forward

We’ve been flooded with crypto founders asking us what the recent election means for their projects. We have told them that we have an incredible opportunity to build on the bipartisan progress from the last Congress and bring the best of crypto to the world.

Over the next few months, expect to hear a range of speculation and “hot takes” about what will happen from a legislative and regulatory perspective – the vast majority of it will just be noise. The truth is that it’s too early to tell how everything will shake out, but what we do know is that it is significant for the industry. We’re very optimistic that the government will now foster innovation, accelerate progress, and enable the crypto ecosystem to thrive in the U.S. 

This will enable a future where we can deliver on the many consumer benefits that we’ve been excited about: giving people ownership over their digital identities, new business models for creatives , low to no-fee cross border transactions with stablecoins, new ways for small businesses like restaurants to engage with their customers, the emergence of decentralized social networks, development of physical infrastructure like energy grids, as well as blockchains democratizing AI and games, and so much more that we can’t even imagine yet. 

The good news is that there is now a pathway for constructive engagement with regulatory agencies and legislation that can bring regulatory clarity. You should now all feel empowered to explore all of the groundbreaking products and services that blockchains enable, including tokens. While we’ll likely have greater flexibility to experiment, we can’t forget that the fundamental regulatory principles applicable to blockchain systems remain unchanged. This means that “where there is trust, there is regulation” still applies. So, you should continue to focus on removing centralized aspects or dependencies on trust within your projects, as these are the areas that continue to attract regulatory scrutiny. 

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