Could New Legislation Finally Bring Clarity To US Crypto Rules? Industry Expert Weighs In

As the U.S. prepares for what could be a defining legislative session for digital assets, expectations are mounting around potential shifts in crypto regulation.

Robert Leshner, CEO and co-founder of Superstate sees this as a turning point, with Congress possibly advancing long-awaited laws to provide clarity in the industry.

Speaking ahead of the Benzinga Future of Digital Assets event, Leshner shared his outlook on what might come next.

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A New Framework for Digital Assets

With the prospect of a Congress more favorable to digital assets, Leshner anticipates that lawmakers will focus on three core areas: a framework for stablecoins, structured definitions for digital assets, and repealing the SEC's SAB-121 guidance on crypto custody.

He pointed out the impact of these potential regulations, explaining that they could finally end a "decade of legal grays" and replace it with "black and white rules" that would allow the industry to expand within a clear legal structure.

Addressing Stablecoins and Custody Rules

One priority on the legislative horizon is a stablecoin bill that would establish guidelines for stablecoins in the U.S. The proposed law aims to clarify the issuance and management of stablecoins, which have become widely used in digital transactions.

Leshner also emphasized the potential impact of repealing the SEC's SAB-121 guidance, which has restricted crypto custody by placing complex accounting requirements on crypto-related firms. Removing these restrictions, he believes, would open new possibilities for digital asset custody services in the U.S.

Defining Crypto Assets

Leshner highlighted the importance of clear definitions for digital assets, noting that confusion around terminology has long been a barrier for the industry. Proposed measures such as FIT21 aim to categorize digital assets, creating a structured approach that could aid mainstream adoption. Leshner views these definitions as essential for aligning crypto with existing financial regulations, creating a foundation for the industry to grow.

As Leshner prepares to speak at the Benzinga Future of Digital Assets event, his perspective offers insight into how upcoming legislation could reshape the future of digital finance in the U.S.

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As the digital asset market continues to mature, the convergence of regulatory shifts, M&A activities, and adoption trends will define the future of this dynamic field. Benzinga's Future of Digital Assets event in New York City this November will provide industry leaders and investors with a platform to explore these developments further, offering insights into the evolving regulatory environment and the latest market dynamics.

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