In the United States, the increasing relevance of crypto as a political issue has led to Democrats showing a growing interest in the crypto industry. Notably, 71 Democrats recently voted in favor of a bill related to crypto. Industry lobbyists suggest that Democratic lawmakers are influenced by Gary Gensler, who often relies on regulators from his own party for expertise on topics like financial regulation. Congressman Ryan referred to this influence and emphasized Congress’ responsibility in shaping the country’s approach to crypto, as Gensler is expected to conclude his tenure as head of the SEC in June 2026.
On the other hand, Republicans, notably led by figures like Trump, have been increasingly supportive of crypto. They advocate for embracing crypto and positioning the U.S. as a leader in the crypto economy. Despite some degree of bipartisan support for crypto, the changing political dynamics are seemingly pressuring Democrats to also embrace the industry. This pressure comes as Democrats are faced with growing demands to proactively regulate the crypto industry and stay ahead in this evolving landscape.