Washington's Crypto Wins May Be Built on Sand

The crypto industry is celebrating a series of wins in Washington, but many experts warn that these gains are built on sand.

Much of what the crypto world is celebrating comes from executive orders, agency guidance, and administrative reinterpretations of existing rules, which can be reversed at any time.

The GENIUS Act, signed into law in July 2025, is a rare concrete legislative achievement for digital assets, creating a federal framework for stablecoins. Regulators have until July 18, 2026, to issue implementing rules.

The CLARITY Act aims to draw clearer lines around which digital tokens count as securities and which are commodities, but it still needs a full Senate vote and potential reconciliation with the House version.