Industry analysts are sounding the alarm that the ‘clock is ticking’ for meaningful cryptocurrency legislation in the United States, with 2026 emerging as a critical deadline. The future of digital asset regulation now appears inextricably linked to two major factors: the political trajectory of Donald Trump and the technical debate over stablecoin yields. As the 2024 election approaches, market participants are eyeing how a potential Trump administration might overhaul the SEC’s approach or push through the FIT21 Act. However, the most significant hurdle remains the regulation of stablecoins. Lawmakers are currently divided on whether issuers should be permitted to offer yields derived from reserve assets like U.S. Treasuries. While some argue this provides necessary utility, others warn it could reclassify stablecoins as securities, further complicating the legislative path. Without a clear consensus by early 2025, the 2026 midterm elections risk stalling progress indefinitely, leaving the industry in a state of prolonged regulatory uncertainty.
Source: ‘Clock is ticking’: crypto bill’s 2026 fate hinges on Trump and stablecoin yields
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