1inch Counsel: Regardless of Midterm Election Results, U.S. Crypto Regulation Will Be Driven Primarily by Federal Agencies

TechFlow news, November 4, according to Cointelegraph, during the U.S. midterm elections, Maylea Ma, Deputy General Counsel at 1inch, said the election results could affect the direction of the stalled "CLARITY Act," but "substantive progress" in U.S. digital asset regulation over the next few years will come mainly from the SEC, CFTC, and Treasury, rather than Congress.

Ma said these agencies are increasingly engaging with crypto projects, but agency guidance cannot provide the legislative stability the industry expects, and the long-term goal remains written law that will not be reversed by changes in government. Michael Ho, co-founder of D3 on the Doma Protocol team, also said the stalled market structure bill has left U.S. crypto policy dependent on agency guidance that could be overturned by future administrations, causing institutional capital to remain on the sidelines.

Source: TechFlow