Analysis:Trump agencies to set crypto policy as bill stalls, limiting industry's gains

As President Donald Trump's agencies lack a comprehensive U.S. crypto legislation, they are set to independently craft regulatory policies. However, these efforts are contentious and may be overturned by future administrations. While deep-pocketed crypto companies have spent millions campaigning for favorable legislation, the bill has stalled, leaving the agencies with the task of providing much-needed regulatory clarity.

The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are reportedly prepared to act, with the SEC reportedly drafting a rule to exempt certain token offerings from securities rules. The CFTC, meanwhile, will discuss crypto regulation at an industry gathering this week. Industry experts warn that without a lasting framework, regulations could be vulnerable to shifting political climates and court challenges.