Kristin Smith, executive director of the Blockchain Association, an encryption industry lobby group based in Washington, said that the industry’s reputation has been damaged after the collapse of cryptocurrency exchange FTX, and repairing the reputation will require continued engagement with U.S. policymakers.
She said the industry can emerge from the current crisis and what it needs is to work with bipartisan policymakers interested in finding the right regulatory framework for crypto that not only protects consumers but also drives innovation.
“We’re going to see some bipartisan legislative proposals being put forward that are going to be scrutinized and debated very intensely in multiple committees in Congress, and we could really see some momentum towards completion,” Smith said.