US Crypto Rules Seen as Model

Just landed back in the USA after an incredible trip through Korea, Indonesia, Singapore and the Philippines. One message I heard repeatedly across APAC: America is seen as a blueprint for digital asset regulation and institutional participation. As someone who focuses on Crypto In America, that stuck with me. Here at home, the lack of clear market structure rules and the long fight to establish them have left many feeling the U.S. is falling behind globally. Yet across APAC, America is still viewed as the gold standard, even after the Clarity Act failed to pass. One person I interviewed at a Singapore-based company told me: “You guys seem to forget how good you have it in the U.S.” Of course, there’s nuance. Without a federal legislative framework, states are now back in focus. Illinois is the latest example. Crypto advocates warn its draft Digital Asset Tax rules could treat DEXes as brokers and require protocols to collect personal data, which they say could chill DeFi activity in the U.S. Looking forward to continuing this conversation this morning at @dcfintechweek with Jerome Beaumont of @EGFIU and Bruno Batavia of @valorcapgroup. We’ll talk about how regulators should respond to emerging risks in financial markets without killing innovation.