Crypto must cement adoption to withstand US policy shifts: Canton CEO
Reported by Cointelegraph · AI-assisted summary by ChikoCorp AI News Desk
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Summary
Yuval Rooz, co-founder and CEO of Digital Asset, stated at Token2049 in Singapore that the cryptocurrency industry should accelerate institutional adoption now to make blockchain use so widespread that future US administrations cannot reverse progress. He compared this strategy to how companies like Uber and Airbnb became entrenched before regulators could restrict them. The discussion took place amid uncertainty following the failure of the CLARITY Act to advance in the US Senate and ongoing crypto regulation efforts by the SEC and CFTC. Binance co-CEO Richard Teng and Franklin Templeton CEO Jenny Johnson also commented on the need for regulatory clarity and institutional confidence.
Why it matters
Rooz argued that broad adoption could safeguard the crypto industry from potential regulatory rollbacks after the 2028 US presidential election. Teng emphasized that legislation like the CLARITY Act could prevent regulatory backtracking, which he called the industry's "biggest fear." Johnson highlighted that legislation would provide certainty, but cautioned that the industry should also rely on existing regulatory agencies to continue enabling innovation and adoption.
Key context
The US regulatory environment for crypto is currently uncertain as the CLARITY Act failed a procedural vote in the Senate in September. The SEC and CFTC are moving forward with their own regulatory frameworks under existing authority. The next US presidential election in 2028 could bring changes in regulatory priorities, raising concerns about the durability of current progress.
Key numbers and entities
Yuval Rooz (Digital Asset CEO), Richard Teng (Binance co-CEO), Jenny Johnson (Franklin Templeton CEO), US Securities and Exchange Commission (SEC), Commodity Futures Trading Commission (CFTC), CLARITY Act, Token2049 conference in Singapore, November 7, 2028 US presidential election.
What remains unclear
The source does not detail specific strategies Digital Asset or others are using to accelerate institutional adoption or how widespread blockchain use would concretely prevent regulatory reversals. It also does not clarify the timelines or likelihood of the CLARITY Act being reintroduced or passed in future sessions of Congress.