With voting underway in the US midterm elections and control of Congress at stake, Maylea Ma, deputy general counsel at 1inch, said she expects federal agencies to drive the next phase of crypto regulation.
The election could reshape the path forward for the stalled CLARITY Act, but Ma said “real movement” in US digital-asset regulation over the next few years will come from the US Securities and Exchange Commission, Commodity Futures Trading Commission and Treasury, rather than Congress.
Ma said those agencies were increasingly engaging with crypto projects. However, agency engagement does not provide the stability the industry had hoped to secure through legislation.
“The long-term goal, of course, remains a statute that cannot be reversed every time a government changes,” said Ma.
That uncertainty also matters to institutional investors, according to Michael Ho, co-founder of D3, the team behind Doma Protocol.
“With the…
