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📅 December 24 | Washington, D.C.
The political clock is ticking, and the margin for error is minimal. While the crypto market watches from the sidelines, the U.S. Congress faces one of the most complex regulatory decisions of the next decade: whether or not to pass a comprehensive law that defines, once and for all, how digital assets are regulated.

📖2026 is shaping up to be a turning point for crypto legislation in the United States. The Block estimates there is only a 50% to 60% chance that Congress will be able to pass a comprehensive crypto market law before the midterm elections completely dominate the political agenda.
Kevin Wysocki, head of public policy at Anchorage Digital, was straightforward in assessing the landscape. He acknowledged progress in the dialogue between Democrats and Republicans, but the complexity of the bill—which intersects banking, securities, and commodities laws—makes any consensus fragile and easily reversible.
In the Senate, the effort is divided. The Banking Committee is working on a draft that seeks to divide powers between the SEC and the CFTC, as well as introduce the concept of “ancillary assets”, with the aim of clarifying which cryptocurrencies should not be treated as securities. Meanwhile, the Agriculture Committee, which oversees the CFTC, is pushing its own version to expand the derivatives regulator's authority. Both texts must be merged before reaching the full House, a politically delicate process.
The initial optimism of ending the year with concrete progress has faded. However, Banking Committee spokespeople maintain that significant progress has been made with Democratic lawmakers and that a markup could occur by early 2026. Even so, each week without action increases the risk that the legislative window will close.
The sticking points remain deep. One of the most sensitive issues is the treatment of yielding stablecoins, where traditional banks warn that allowing interest could distort the financial system, while the crypto sector defends it as legitimate competition. Another critical front is DeFi, especially regarding anti-money laundering and the perennial dispute over whether the SEC should have the final say in token classification.
Added to this is a politically explosive factor: President Donald Trump's conflicts of interest in the crypto sector. Bloomberg estimates that the president has earned hundreds of millions of dollars through DeFi projects, stablecoins, mining, and memecoins associated with his family. This issue threatens to become election ammunition, complicating any attempt at bipartisan consensus.
The situation is aggravated by the state of the CFTC, which is facing an institutional crisis after the departure of four commissioners. With only one Republican remaining and an interim chairman, many senators are hesitant to grant more power to an agency that is practically leaderless.
And as a backdrop, the risk of another federal government shutdown. Current funding expires in January 2026, and another budget impasse could completely freeze any legislative progress, including crypto regulation.

Topic Opinion:
The problem is no longer ideological, but structural. Without a coherent legal framework, innovation advances blindly, and regulatory risk becomes a silent tax for companies and investors. Crypto regulation is not a favor to the industry; it is a necessity for the modern financial system.
💬 Do you think Congress will manage to pass a crypto law before the midterms?

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