Crypto Firms Shift Strategy as White House Scraps Digital Asset Council for Roundtables

Crypto Industry Strengthens Washington Presence Amid Regulatory Evolution and Leadership Changes

  • Major cryptocurrency firms are actively establishing policy teams in Washington to influence digital asset regulations and secure positions in key governmental groups.
  • The Presidential Council of Advisers for Digital Assets, led by Bo Hines, will shift to issue-specific roundtables instead of maintaining a single council structure.
  • The SEC’s Crypto Task Force under Commissioner Hester Peirce is meeting with industry leaders to address past regulatory challenges and explore new frameworks.
  • A federal judge has paused the SEC’s lawsuit against Binance for 60 days, suggesting potential regulatory shifts under new leadership.
  • Legal experts anticipate dismissal of basic registration cases while fraud-related matters may face more complex resolution paths.

Cryptocurrency industry leaders are intensifying their presence in Washington as regulatory frameworks undergo significant transformation. The shift comes as the President’s Working Group on Digital Asset Markets, under Crypto and AI Czar David Sacks, establishes new channels for industry engagement.

- Advertisement -

The anticipated Presidential Council of Advisers for Digital Assets, led by former congressional candidate Bo Hines, is pivoting to a more flexible format. “We’re not having that [the council]; we’re going to do the roundtables. That’s the current thinking at least,” according to sources familiar with the matter. This change is formalized in the president’s executive order on digital financial technology.

Ripple and Coinbase, notable contributors to previous political initiatives, must now participate through public hearings similar to CFTC proceedings. These sessions will be overseen by Brian Quintenz, the nominee for CFTC Chair from Andreessen Horowitz. Ripple Labs, despite its $161 billion XRP Ledger blockchain, faces adjusted engagement strategies after reported lobbying efforts for council representation proved unsuccessful.

At the SEC, Commissioner Peirce’s task force has initiated discussions with key industry stakeholders, including the Blockchain Association, AH Capital Management, and Nasdaq. These meetings focus on regulatory reform and technological innovation in digital assets.

Legal proceedings are showing signs of adjustment. Former SEC prosecutor Arthur Jakoby suggests that straightforward registration cases may be dismissed, while fraud-related matters could face more complex resolution paths. Mark Bini of Reed Smith notes that the SEC’s discretionary powers could lead to rapid policy shifts, particularly given recent personnel reassignments in crypto-related cases.

✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.

Previous Articles:

- Advertisement -

Latest News

UAE Denies TON’s Golden Visa Offer for $100K Staked Toncoin

The Open Network (TON) announced a program offering 10-year UAE Golden Visas to applicants...

Putin: 90% of BRICS Transactions Now Settled in Local Currencies

BRICS confirmed that 90% of all transactions among member countries are now settled in...

Bitcoin, Major Cryptos Jump as US Eyes Trade Deals Before Tariff Deadline

Major cryptocurrencies increased Sunday following comments from U.S. Treasury Secretary Scott Bessent about imminent...

XRP Poised for $5 Surge by 2027 After SEC Win and ETF Hopes

Ripple’s XRP token reached $2.23 in July 2025 after rising over 640% since July...

Must Read

What Is a Sim Swap Hack?

You've likely heard the term 'sim-swap,' but do you really know what it means? It's a type of fraud that's rapidly increasing, where scammers...