Congress Moves Closer to Historic Crypto Law as Trump Signals Support

Custodia Bank CEO Caitlin Long revealed the development live on CNBC during the Wyoming Blockchain Symposium, calling it a pivotal moment for the industry.

Washington’s Tone Shifts on Crypto

Long noted that Washington’s stance toward crypto has softened in recent months. Regulators at the FDIC and OCC have shown greater openness to crypto-related activities, while personnel changes inside the Federal Reserve are raising hopes of more supportive policies. The Fed, while still the final gatekeeper for banking services, has scaled back some supervisory restrictions, signaling a more balanced approach.

Stablecoins in the Spotlight

Following the recent passage of the GENIUS Act, which introduced the first federal framework for dollar-backed stablecoins, industry players are preparing for wider adoption. Custodia Bank, together with Vantage Bank, recently launched one of the first bank-backed stablecoins, a move Long believes will set compliance standards for the sector. She stressed that building regulatory trust early could create a level playing field for banks, especially smaller community lenders.

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Yet, key questions remain unresolved, including how capital requirements will be applied to banks holding stablecoins and how compliance obligations will be enforced across institutions. Clear rules, Long argued, could cut costs and expand participation from smaller banks.

Next Step: The Clarity Act

Attention now turns to the Clarity Act, which provides a broader rulebook for the crypto industry. The House has already passed its version, but the Senate is expected to amend the bill before sending it to the president’s desk. President Donald Trump has signaled his support and is expected to sign the legislation this year, creating significant momentum for mainstream crypto adoption.

For investors, the twin passage of the GENIUS Act and the Clarity Act could mark a watershed moment, unlocking institutional demand and cementing digital assets within the U.S. financial system.



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