Kristin Smith, president of the Solana Policy Institute and incoming interim CEO of the Blockchain Association, argues that the window to set U.S. crypto rules is now. She made the case in a Bloomberg Crypto interview dated October 6, 2026, with hosts Scarlet Fu and Dushyant Shahrawat. Her argument runs through two channels, Congress and the federal agencies, and the details of each are forecasts, not settled facts.
What Smith is arguing
The interview listing describes the discussion as being about the urgency of establishing rules for the crypto industry in the current Washington political environment. Coverage dated October 7, 2026 adds the substance: Smith’s case spans both legislation and federal rulemaking, not one or the other.
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No full transcript was available, so this article does not quote her. Everything below is a paraphrase of her reported positions.
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Legislation
- The Clarity Act failed in the Senate, according to the coverage. The vote record and procedural details were not part of the sources used here.
- The GENIUS Act and an IRS broker-rule change are described as industry wins, in Smith’s characterization. They are reported policy gains, not a complete market-structure framework. The text of the statute and the IRS rule were not reviewed for this article, so their exact effects are not detailed here.
- A Clarity Act revival before the November midterms, or in the lame-duck session afterward, is something she reportedly sees as unlikely but possible.
Agency rulemaking
Smith reportedly estimates that SEC and CFTC rulemaking would take 18 to 24 months. That is her estimate, not a published statistic or a statutory deadline.
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The durability argument
The urgency comes from timing. Smith’s reported view is that rules completed before roughly summer 2028 could be harder to reverse. The reasoning is political: finished rules are harder to undo than pending ones. This is her forecast. Agency timelines slip, courts and future administrations can intervene, and nothing guarantees the outcome.
Obstacles she identified
- The president’s family’s crypto business, which the coverage reports she named as a complicating factor for legislation.
- Incomplete support from banks.
Both are her assessments as reported. The sources did not provide further detail on how either would shape votes.
Legislation versus agency rules
| Congressional route | SEC/CFTC rulemaking route | |
|---|---|---|
| Reported status | Clarity Act failed in the Senate; revival seen as unlikely but possible | Smith’s estimate: 18 to 24 months |
| Near-term outlook | Depends on the midterms and the lame-duck session | Depends on agency process and priorities |
| Durability | Statute is generally harder to change than a rule | Smith argues rules finished before about summer 2028 are harder to reverse |
| Evidence level | Reported outcome plus her assessment | Her forecast only |
How to read the headline
Related coverage asks, “Is Crypto Really Winning in Washington?” The evidence here supports a mixed answer. Two reported wins sit beside a failed market-structure bill. The rule-making path she favors is long, and her own timeline leaves little margin before the political window she describes closes. Treat “this is the moment” as an advocate’s framing, not a settled conclusion.
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