Digital Asset co-founder and CEO Yuval Rooz has encouraged the crypto industry to use the current regulatory landscape as an opportunity to advance institutional adoption. Rooz argued that deepening the integration of blockchain technology could make it significantly more difficult for future US administrations to reverse the sector’s progress.
Calls for accelerated blockchain usage
Appearing at Token2049 in Singapore, Rooz highlighted the importance of making blockchain so ubiquitous that any changes in the regulatory environment, especially around the 2028 US presidential election, would be unlikely to set the industry back. The next presidential election is scheduled for November 7, 2028, raising concerns that shifting policy priorities might affect crypto regulation.
Rooz compared the situation to the rise of ride-sharing and home-sharing platforms like Uber and Airbnb. He suggested these services became so widely adopted during early regulatory uncertainty that by the time lawmakers moved to introduce restrictions, they were already ingrained in daily life and difficult to roll back.
Rooz said that the industry should pursue widespread blockchain adoption “so that, whatever happens in 2028, there is no going back.”
Digital Asset is a US-based enterprise software company focusing on smart contract technology and distributed ledger solutions for financial infrastructures.
Perspectives on US crypto regulation
The panel discussion followed the September 2023 failure of the CLARITY Act to advance in the US Senate. The CLARITY Act aims to set clear rules for digital assets, but has not moved forward legislatively. In its absence, the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have continued to set regulatory frameworks for the industry under current legal authority.
Binance co-CEO Richard Teng expressed optimism that the CLARITY Act could still become law, noting that a supportive legislative framework would help safeguard the industry’s progress and remove regulatory uncertainty. Teng emphasized that “the biggest fear” among industry participants is the risk of regulatory backtracking by future administrations, which could undermine current advances.
Teng warned that only comprehensive legislation could assure institutions and prevent the reversal of crypto industry developments.
Binance is one of the world’s largest cryptocurrency exchanges, offering digital asset trading to users globally.
Ongoing efforts by regulators
Franklin Templeton CEO Jenny Johnson also participated in the panel, stating that while legislation would provide even greater certainty, the industry should not assume the CLARITY Act will pass soon. She pointed out that both the SEC and CFTC are already making efforts to clarify the regulatory landscape, enabling continued innovation and institutional involvement in the crypto space.
Franklin Templeton is a well-established global investment management organization with a growing presence in digital assets.
The broader discussion reflects ongoing industry efforts to balance regulatory clarity with innovation, as well as the strategic push to cement blockchain and crypto infrastructure in financial systems before potential shifts in future US policy.
The prospects for definitive legislation, such as the CLARITY Act, remain uncertain, but industry leaders continue to focus on widespread adoption and proactive compliance with existing regulations to secure the technology’s future.
