Canton CEO: Crypto Needs Solid Adoption to Weather US Policy Changes

Blockchain Adoption as a Shield Against Policy Reversals

Singapore – Yuval Rooz, co-founder and CEO of Digital Asset, has urged the cryptocurrency industry to leverage the current regulatory landscape to accelerate institutional adoption, drawing parallels to the rise of disruptive tech giants like Uber and Airbnb. Rooz argued that by embedding blockchain technology deeply into the fabric of commerce and daily life, the industry could create a bulwark against potential policy reversals by future administrations.

Speaking at the Token2049 conference in Singapore, Rooz emphasized the need for widespread blockchain integration, stating that the goal should be to reach a point where “there is no going back,” regardless of political shifts. This sentiment comes as the United States approaches its next presidential election on November 7, 2028, a date that could usher in a new administration with potentially altered regulatory priorities.

Rooz likened the current opportunity to the early days of ride-sharing and short-term rental platforms. “By the time people got their act together and decided, OK, we wanna legislate against those companies, it was too late,” he explained, suggesting that these companies achieved critical mass and public integration before regulators could effectively curb their growth.

These remarks follow the recent procedural setback for the CLARITY Act in the Senate in September. Meanwhile, the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have continued to advance cryptocurrency regulations under their existing mandates.

During the same Token2049 panel, Binance co-CEO Richard Teng echoed the desire for legislative clarity, expressing hope that the CLARITY Act would eventually become law. Teng posited that clear legislation could serve as a deterrent against regulatory backtracking and foster greater confidence among institutional investors. He identified the potential for reversing current industry progress as “the biggest fear” for the sector.

Jenny Johnson, CEO of Franklin Templeton, also addressed the need for legislative certainty, though she advised the industry against solely depending on the passage of the CLARITY Act. Johnson noted that the SEC and CFTC are actively working to provide regulatory clarity, which she believes will enable continued innovation and institutional adoption.