The excitement and optimism around bitcoin and cryptocurrencies are increasing due to recent developments such as the nomination of Paul Atkins as SEC Commissioner and the rebound of XRP. However, it is important to approach regulatory changes in the US financial markets with seriousness as they are crucial for global financial markets. While a US central bank digital currency (CBDC) is still years away, the pace of change in legislative circles may cause frustration among crypto policy advocates. Therefore, advocates should focus on enacting targeted changes, such as establishing and expanding safe harbor for crypto organizations and revisiting tax treatment and exemptions for stablecoins. Additionally, defining different cryptoassets and determining which agency oversees each aspect of the crypto sector is crucial. Investors and advocates should also concentrate on achieving measurable steps to encourage mainstream adoption and utilization of cryptocurrencies.



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