The blockchain industry under the influence of American policy: a new course towards regulation and innovation

Geopolitical Competition Around Digital Assets

The cryptocurrency sphere is becoming an arena of geopolitical rivalry, where the US actively shapes its legislation to maintain leadership. Interconnected crypto systems that support the functioning of blockchain technologies and digital operations have become the focus of intense attention from both federal authorities and public institutions. For investors, developers, and policymakers, understanding this development trajectory is critically important.

How the US Is Reconsidering Its Approach to Cryptocurrencies

The American government has moved away from a stance of indifference toward active development of a comprehensive regulatory framework. The new approach focuses on three main directions:

Stablecoins as a Strategic Advantage

Stablecoins have become a cornerstone of the modern crypto network, creating a bridge between the traditional financial system and decentralized networks. US legislation, including initiatives like the GENIUS Act, envisions regulating their issuance and circulation. This regulatory intervention is seen not only as a means to ensure the reliability of financial instruments but also as a way to preserve the US dollar’s monopoly influence on global markets.

Without proper regulation, stablecoins could cause destabilization of traditional financial markets. Simultaneously, there is a problem of centralization: most projects depend on a single organization, which contradicts the very idea of a decentralized economy.

Reallocation of Regulatory Powers

The question of the division of authority between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) remains open. Clarifying the boundaries of each agency’s responsibilities will help businesses and investors navigate the regulatory landscape, which in turn will stimulate innovation.

Firm Rejection of CBDC

Unlike other countries, the US takes a conservative stance on developing a central bank digital currency. Concerns about increased government oversight of personal financial transactions and the overall loss of privacy have become the basis for opposition to CBDC projects. This position contrasts with ambitious programs in the European Union, Hong Kong, and Singapore.

Shift Toward Pro-Cryptocurrency Policies

The US is experiencing a noticeable shift toward a more tolerant attitude toward digital assets. This turn is expressed through a series of specific steps:

• Opposition to CBDC: US authorities actively voice concerns about centralized digital currencies, emphasizing risks to personal freedom.

• Lifting restrictions: The previously adopted SAB 121 provision, which hindered the development of crypto projects, has been repealed. This decision has created a more favorable environment for blockchain startups and innovation.

• Bitcoin as a strategic resource: Proposals are being discussed to establish a national strategic reserve of Bitcoin, similar to oil or gold reserves. Such an initiative is positioned as a tool to strengthen the US’s position in the global digital race.

Decentralized Revolution Against Centralized Control

The concept of a “networked state”, proposed by crypto advocate Balaji Srinivasan, offers an alternative scenario for societal organization. The essence of the idea involves:

• Horizontal decision-making: Community structures gain the ability to manage their affairs through decentralized protocols.

• Financial independence: Participants control their assets without intermediaries like traditional banks and financial institutions.

Although still a speculative concept, it reflects a deeper trend in the crypto sphere — a pursuit of alternative forms of societal organization.

Crypto Network in the Context of Global Competition

While Washington develops its regulatory strategy, other centers of power are taking their positions on the crypto innovation map:

European Union has implemented a transparent and comprehensive regulatory framework, aiming to protect the domestic market while attracting international investments.

Asian jurisdictions — Hong Kong, Singapore, and South Korea — play the role of crypto hubs, actively promoting startup development and attracting talent from around the world.

To remain competitive, America must align its strategy with international standards and create a safe yet open environment for experimentation.

The Role of Civic Engagement and Educational Work

Civil society plays a key role in promoting blockchain technologies in the US. State Network from Digital Chamber is a landmark initiative focused on:

• Educating lawmakers: Providing factual information about the potential and risks of blockchain to enable informed policy decisions.

• Funding public projects: Supporting the development of decentralized blockchain solutions through grants and resources.

These efforts aim to bring federal and local authorities closer together, creating a coherent regulatory environment.

Financial Freedom and Control: The Dilemma of the Modern Era

The balance between innovation and security remains the biggest challenge for American crypto policy. Key aspects of this tension include:

CBDC as a threat to privacy: Critics rightly argue that centralized digital currency will give governments unprecedented control over individuals’ personal financial data.

Overregulation: Excessively strict restrictions could stifle innovation without solving the real security issues of the financial system.

Turning Point: The Future of the Crypto Network in the American Context

The US is at a crossroads. Pro-cryptocurrency policy initiatives lay the groundwork for technological breakthroughs but leave unresolved issues of federal and state regulation coordination, as well as maintaining global competitiveness.

The industry’s development depends on the ability to find an optimal balance among three core values: users’ financial freedom, protection of their personal data, and overall system security. This balance will determine the trajectory of blockchain technology development in the coming decades.