Experts attending the Wyoming Blockchain Symposium stated that it is not too late for the U.S. to catch up with other regions in terms of cryptocurrency regulatory frameworks, but warned that inaction could lead to stagnation, causing the U.S. to fall behind other countries.
Sui network developer Mysten Labs' General Counsel and Corporate Secretary Sylvia Favretto said, "I don't think it's too late, even though the European Union (EU) already has the Markets in Crypto-Assets Regulation (MiCA)."
However, she added that the window of opportunity is "very small" and urged immediate action. Ripple's Chief Legal Officer Stuart Alderoty stated:
Summer Mersinger, CEO of the cryptocurrency advocacy organization Blockchain Association, warned that reaching a consensus on a unified crypto policy among U.S. lawmakers and regulators before the 2026 midterm elections could be a "long process" for regulatory clarity.
The 2024 U.S. elections have given the Republican Party control of both the executive branch and both houses of Congress, providing significant leeway for the Trump administration to implement supportive regulatory policies for cryptocurrencies.
However, the Republican Party holds a slim majority in Congress, a lead that has diminished since 2024.
As the 2026 midterm elections approach, the Republicans have a majority advantage of 7 seats in the House of Representatives and 8 seats in the Senate.
Joe Doll, General Counsel of the non-fungible token (NFT) marketplace Magic Eden, told Cointelegraph that the Trump administration has only two years to establish meaningful cryptocurrency regulations.
Doll noted that during midterm elections, the balance of power often shifts to the other party and warned that a gridlocked legislature could hinder U.S. cryptocurrency regulations.
Marta Belcher, Chair of the Board of the Blockchain Association, echoed Doll's warning, adding that regulatory policies are also difficult to pass through the legislature on the eve of midterm elections, as representatives focus on their re-election campaigns.
Related: All Roads Lead to Inflation: Whether the Federal Reserve Cuts Rates or Not, Bitcoin (BTC) May Benefit
Original article: “Wyoming Symposium Experts: U.S. Must Pass Regulatory Frameworks or Risk Falling Behind in Crypto Race”
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