US Crypto Regulations Leave Bitcoin Holders in Limbo

US crypto regulations have been changing frequently due to shifts in leadership at banks and government agencies. This has made it difficult for Bitcoin holders to know what rules will apply when a new administration takes office.

According to the Congressional Research Service, Congress has not created an overarching crypto statute, leading to inconsistent policies across different agencies. For example, Trump-era appointees allowed specific crypto activities on a case-by-case basis, while Biden-era appointees required supervisory approval for any crypto activity.

The Federal Reserve and FDIC have also issued conflicting statements on bank involvement in crypto. The Office of the Comptroller of the Currency withdrew its non-objection requirement for certain digital-asset services in March 2025, but the Federal Reserve and FDIC continued to govern state-chartered banks under a joint statement that effectively prohibited issuing, holding, or transferring crypto.

Despite these challenges, some lawmakers are pushing for legislation that would establish clear rules for bank involvement in crypto. The CLARITY Act, which was voted down by the Senate in September 2026, aimed to divide oversight between the SEC and CFTC, establish registration requirements, and strengthen anti-money-laundering protections.