Cryptocurrency Legislation Faces Tight Deadline, Industry Urged to Act

In an interview on Cointelegraph’s Deccentralize podcast, Marta Belcher, president of the Blockchain Association and Filecoin Foundation, warned that the window for passing meaningful cryptocurrency legislation in the United States is closing rapidly.

Urgency Prior to Elections

Belcher stressed that inaction could trigger long-term consequences for the industry, urging lawmakers and leaders to act before the 2026 election cycle potentially derails current momentum.

“Once the midterms happen, we don’t really know whether Congress is going to be friendly towards crypto or whether there’s going to be a backlash.”

Belcher cautioned against relying on post-August recess movement, highlighting uncertainty regarding congressional priorities.

Cautionary Tale from Previous Administration

Belcher pointed to the SEC’s actions under Gary Gensler during the previous administration as a stark example of regulatory hostility.

“It would be hard to overstate how much of the industry went abroad as a result…”

“I really hope that the tides will change when we have legislation that makes it possible to operate here.”

Legislative Efforts and Compliance

Current legislative focus is on stablecoin and broader market structure reforms, with a potential vote on stablecoins imminent. The legislation, emphasized Belcher, would establish necessary compliance pathways that many projects urgently seek.

“They just want to know what they have to do to be in compliance,” Belcher stated. Compromise across the industry is essential.

“This legislation is actually existential, in my view. It’s not going to be perfect… but we all need to be willing to come together and do what needs to get done.”

(Image depicting US Government, Filecoin, Stablecoin context)