Crypto must cement adoption to withstand US policy shifts: Canton CEO

What happened

Crypto must cement adoption to withstand US policy shifts: Canton CEO, according to Cointelegraph. Canton CEO Yuval Rooz compared blockchain adoption to Uber and Airbnb, arguing that widespread adoption could help insulate it from potential policy reversals. Digital Asset co-founder and CEO Yuval Rooz said the crypto industry should use the current regulatory environment to accelerate institutional adoption, arguing that widespread use of blockchain could make it harder for future administrations to reverse the industry’s progress.

Speaking at Token2049 in Singapore, Rooz said the industry should make blockchain so widely used that whatever happens in 2028, “there is no going back.” The next US presidential election, which could bring a change in administration and regulatory priorities, is scheduled for Nov.

He compared the opportunity to Uber and Airbnb, where he argued both services became entrenched before policymakers could effectively restrict them. The comments come after the CLARITY Act failed to advance in the Senate procedural vote in September . The Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have pushed ahead with crypto regulations under their existing authority.