Crypto in Washington Keeps Working, but 2028 Will Be Crucial
The sector made gains through lobbying and new rules around stablecoins and oversight, but without market structure, the direction still depends on the U.S. elections in 2028.
Key Takeaways
- The U.S. crypto sector says its lobbying in Washington is paying off, but warns that those gains will not hold on their own.
- According to the opinion piece, bipartisan support and new rules led to concrete breakthroughs, including the first crypto-specific law and the first federal stablecoin law.
- The sector says 2028 is crucial because a new administration without market structure legislation could once again change the direction of regulators.
The crypto sector in the United States says its approach in Washington is working, but warns at the same time that those gains will not last on their own. According to an opinion piece from the Solana Policy Institute, the sector has gotten much better over the past few years at lobbying, explaining legislation, and building support from both parties in Congress. Still, the midterms and especially the 2028 presidential election will determine the direction of policy.
From Outsider to Regular Voice at the Table
Four years ago, crypto had few friends in Washington. The sector had a small group of loyal allies, dealt with a damaged image because of bad actors, and faced an enforcement approach that, according to the authors, cost nearly half a billion dollars in investigations and lawsuits. They say that money could have gone to new U.S. companies instead.
That led to a long-term strategy. Since 2022, crypto supporters have been briefing candidates in both parties on what crypto is, what it can mean for everyday Americans, and why clear rules are still missing. At the same time, groups like the Blockchain Association, DeFi Education Fund, Stand With Crypto, Crypto Council for Innovation, and Solana Policy Institute built steady contacts in Washington. Solana itself, the piece says, has also grown from an unknown name into a regular part of the political conversation.
Legislation and Oversight Are Shifting
According to the authors, that approach has delivered real results. Republicans laid the groundwork with near-unanimous support for major crypto votes. Democrats helped push things further, including in the votes on SAB 121, the broker rule, and later CLARITY and GENIUS. In the Senate, 18 Democrats helped GENIUS clear the filibuster. That made the repeal of the broker rule the first crypto-specific law in U.S. history, while GENIUS became the first federal stablecoin law.
Because Congress still has not passed a final market framework, regulators are filling the gap for now. The SEC recently came out with Regulation Crypto and an innovation exemption, while the CFTC proposed a new structure for trading crypto on regulated exchanges. Rules have also been worked out to apply GENIUS. The sector sees that as proof that the debate is no longer happening only in court, but also through legislation and oversight.
Why 2028 Matters So Much
The authors call 2028 the most important election for crypto's future. Without market structure legislation, a new administration could once again change the direction of regulators. In that light, they say it is important to start building ties now with possible Democratic and Republican leaders, including future candidates for the SEC, the CFTC, and the Treasury Department.
For European readers, this matters because the U.S. direction often spills over into the broader crypto market and into the way major companies shape their policies. It also shows that the sector in the U.S. is increasingly focused on long-term political relationships instead of one-off bills. That makes the next election cycle important, even if the law itself does not change right away. In that power struggle, crypto PACs are playing a more visible role in campaign funding and in the fight for influence in Congress.