Confirmed — *Oct 6 Bloomberg Crypto* interview — Kristin Smith, President *Solana Policy Institute* + interim CEO *Blockchain Association*.$MBL $LUMIA $CFX
*What she actually said:*
- *"Crypto is winning in Washington"* even though *Clarity Act failed in Senate* — wins already locked:
- *GENIUS Act* — US stablecoin law signed — first federal crypto market structure
- *IRS broker rule fix* — killed DeFi broker reporting
- Political cover let regulators move: *CFTC opened public comment Oct 6* on leveraged retail crypto trading
- *Why 2028 matters:* SEC/CFTC rulemaking = 18-24 months — rules finished *before summer 2028* avoid *Congressional Review Act* overturn — become durable because TradFi + overseas firms build on them — "politically untenable to attack rails that move trillions"
- *What's blocked:* Clarity revival before Nov midterms or lame-duck *unlikely but possible* — hurdles:
1. *Trump family crypto business* (World Liberty Financial)
2. *Banks not fully on board* — fighting stablecoin yield/competing products
- *Shift she describes:* from "all-out assault via securities laws, regulation-by-enforcement" driving builders overseas → to coordinated lobbying + legislation — $200M+ spent electing pro-crypto Congress + Trump strategic BTC reserve + SEC Project Crypto under Paul Atkins
Bitwise CIO Matt Hougan counter: agency wins can be reversed Jan 2029 by new administration — so race to finish before deadline.
*BREAKING 🚨 Solana Policy Institute's Kristin Smith to Bloomberg: "Crypto is winning in Washington" — GENIUS stablecoin law + IRS rule kill = wins despite Clarity Act failure — SEC/CFTC racing to lock rules before summer 2028 CRA window — Says TradFi building on rails makes reversal untenable ⚡*
*What she actually said:*
- *"Crypto is winning in Washington"* even though *Clarity Act failed in Senate* — wins already locked:
- *GENIUS Act* — US stablecoin law signed — first federal crypto market structure
- *IRS broker rule fix* — killed DeFi broker reporting
- Political cover let regulators move: *CFTC opened public comment Oct 6* on leveraged retail crypto trading
- *Why 2028 matters:* SEC/CFTC rulemaking = 18-24 months — rules finished *before summer 2028* avoid *Congressional Review Act* overturn — become durable because TradFi + overseas firms build on them — "politically untenable to attack rails that move trillions"
- *What's blocked:* Clarity revival before Nov midterms or lame-duck *unlikely but possible* — hurdles:
1. *Trump family crypto business* (World Liberty Financial)
2. *Banks not fully on board* — fighting stablecoin yield/competing products
- *Shift she describes:* from "all-out assault via securities laws, regulation-by-enforcement" driving builders overseas → to coordinated lobbying + legislation — $200M+ spent electing pro-crypto Congress + Trump strategic BTC reserve + SEC Project Crypto under Paul Atkins
Bitwise CIO Matt Hougan counter: agency wins can be reversed Jan 2029 by new administration — so race to finish before deadline.
*BREAKING 🚨 Solana Policy Institute's Kristin Smith to Bloomberg: "Crypto is winning in Washington" — GENIUS stablecoin law + IRS rule kill = wins despite Clarity Act failure — SEC/CFTC racing to lock rules before summer 2028 CRA window — Says TradFi building on rails makes reversal untenable ⚡*