U.S. encryption policy turned friendly during Trump’s second term, and 2026 is a critical year

On December 31, U.S. encryption policy turned friendly under Trump’s second term. 2026 is regarded as a decisive year, and the following are the core time nodes:

In January, the Senate is expected to hold a hearing on the Crypto Market Structure Bill. If passed, it will clarify the regulatory boundaries between the SEC and the CFTC; the SEC may also launch an "innovation exemption" mechanism to relax the compliance threshold for start-up projects.
On May 15, Fed Chairman Powell’s term expires, and Trump may appoint a more dovish candidate, which may be good for crypto assets.
On July 1, California’s Digital Financial Assets Act came into effect, imposing licensing requirements for institutions conducting crypto businesses in California.
On July 18, the regulatory details supporting the stablecoin "GENIUS Act" expired, involving issuance, capital and compliance rules.
In August, crypto tax legislation and CFTC blockchain-related rules are expected to advance.
On November 3, the U.S. midterm elections will take place, and the results may directly affect the direction of encryption legislation and regulation. It is generally believed in the industry that the United States is closer than ever to forming a clear and unified encryption regulatory framework.
On November 3, the U.S. midterm elections will take place, and the results may directly affect the direction of encryption legislation and regulation. It is generally believed in the industry that the United States is closer than ever to forming a clear and unified encryption regulatory framework.