Peter Van Valkenburgh is warning that the crypto industry could miss a rare opportunity to lock in clear legal protections in the United States.
He says the goal of the CLARITY Act is not just about trusting the current government—but about making sure future administrations are also bound by clear rules.
In simple terms, he believes the industry needs laws, not just temporary policies.
Right now, many crypto companies rely on regulatory guidance that can change after elections. Van Valkenburgh warned that without proper legislation, the industry could face a “grim” future—where decisions are driven by politics, uncertainty, and fear instead of clear laws.
The problem is that the CLARITY Act is stuck in the Senate.
The bill is meant to define how digital assets are regulated and clarify whether certain tokens fall under securities or commodities laws. It’s also part of a bigger effort to decide which government agencies should oversee different parts of the crypto market.
But lawmakers, banks, and crypto companies can’t agree on key issues.
One of the biggest disagreements is about stablecoins—especially whether companies should be allowed to offer rewards or interest-like returns to users who hold them. Banks argue that allowing this could pull money out of traditional banking systems, while crypto firms say restricting it would hurt innovation and competition.
Because of these disagreements, the bill has stalled, even though the House of Representatives already passed its version in 2025.
Van Valkenburgh also pointed out another risk: even if current regulators seem more supportive of crypto, that could change quickly with a new administration.
He referenced the shift after Gary Gensler left his role, noting that regulatory approaches can change depending on who is in charge. While there have been more crypto-friendly signals recently—such as efforts led by Hester Peirce—he says that’s not enough.
His main message is simple: without strong laws in place, the crypto industry remains vulnerable.
In short, this moment could shape the future of crypto regulation in the U.S.—but if lawmakers don’t act, that opportunity might slip away.
