Crypto must cement adoption to withstand US policy shifts: Canton CEO
Digital Asset co-founder and CEO Yuval Rooz said the crypto industry should use the current regulatory environment to accelerate institutional adoption, arguing that widespread use of blockchain could make it harder for future administrations to reverse the industry’s progress.Speaking at Token2049 in Singapore, Rooz said the industry should make blockchain so widely used that whatever happens in 2028, “there is no going back.” The next US presidential election, which could bring a change in administration and regulatory priorities, is scheduled for Nov. 7, 2028. He compared the opportunity to Uber and Airbnb, where he argued both services became entrenched before policymakers could effectively restrict them. “By the time people got their act together and decided, OK, we wanna legislate against those companies, it was too late,” Rooz said. The comments come after the CLARITY Act failed to advance in the Senate procedural vote in September. The Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have pushed ahead with crypto regulations under their existing authority.Digital Asset co-founder and CEO Yuval Rooz at Token2049. Source: Mirra Ridzuan/CointelegraphIn the same Token2049 panel, Binance co-CEO Richard Teng said he hoped the CLARITY Act would still become law, arguing that legislation could prevent regulatory backtracking and encourage institutions to enter the market. He described the possibility of reversing current progress as “the biggest fear” for the industry.Meanwhile, Franklin Templeton CEO Jenny Johnson said legislation would provide greater certainty but cautioned that the industry should not rely on the CLARITY Act passing. She said the SEC and CFTC were already working to provide regulatory clarity, allowing innovation and institutional adoption to continue.Related: Bitmine sets 5% Ether supply ‘hard cap’ as accumulation target nearsCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
