Emboldened crypto industry seeks to cement political influence and mainstream acceptance

By Alan Suderman

When the Trump administration’s crypto czar, David Sacks, recently held a news conference to announce a new congressional working group to advance cryptocurrency regulation, many digital asset enthusiasts were unimpressed and underwhelmed.

“There were a lot of people on X who felt like this wasn’t, you know, a mind-blowing announcement,” Sacks said on a podcast a few days later, referring to the social media outlet formerly known as Twitter. But Sacks said having the White House and key members of Congress committed to passing key crypto legislation in the next year, possibly within six months, was worth celebrating. “We’ve never had that before, so that is pretty monumental,” he said.

Sacks’ defensiveness highlights a new reality in Washington. After spending heavily to help elect Trump and other crypto-friendly lawmakers, the industry is emboldened, impatient and eager to cement its influence in politics and mainstream financial systems.

“Time is critical,”