BIPARTISAN SUPPORT FOR CRYPTO IS FRAGILE — CONGRESSMAN JOHN CURTIS

Last updated: June 20, 2025, 00:24 | Written by: Olaf Carlson-Wee

The digital asset landscape is constantly evolving, and with it, the regulatory environment surrounding cryptocurrencies in the United States.While there have been moments of seemingly unified support for sensible crypto regulation across party lines, a recent warning from Congressman John Curtis highlights the delicate and potentially fleeting nature of this bipartisan cooperation.Speaking at the Permissionless III event, alongside Utah Senator Mike Lee, Congressman Curtis emphasized the importance of finding common ground with Democrats to prevent a partisan gridlock that could stifle innovation and hinder the growth of the burgeoning crypto industry.He pointed to the rare bipartisan effort that saw 71 Democrats join Republicans in repealing the SEC's Staff Accounting Bulletin-121 (SAB-121) as a positive sign, but cautioned that this cooperation should not be taken for granted. Bipartisan support for crypto is fragile Congressman John Curtis 71 Democrats joined their Republican colleagues in a rare bipartisan effort to repeal the SEC s SAB-121 guidelines from earlier thiThis incident begs the question: how solid is bipartisan support for cryptocurrency, and what steps can the crypto community take to foster greater understanding and collaboration with policymakers from all political backgrounds?This article explores the fragility of bipartisan support for crypto, drawing upon Congressman Curtis' insights and examining the challenges and opportunities that lie ahead for the digital asset space.

Understanding the Fragility of Bipartisan Crypto Support

Congressman John Curtis's remarks at Permissionless III serve as a crucial reminder that the political landscape surrounding cryptocurrency is not monolithic.While there is growing recognition on both sides of the aisle that digital assets represent a significant technological innovation with the potential to reshape financial systems, deeply entrenched political differences and varying interpretations of regulatory frameworks can easily derail bipartisan efforts.The repeal of SAB-121, which restricted banks from holding crypto assets, demonstrated that common ground can be found, but it’s vital to understand why such agreements are so rare and potentially short-lived.

One of the primary reasons for this fragility lies in the inherent complexities of cryptocurrency itself. Fairdesk crypto exchange to shut down over regulatory concerns PANews ｜ 3:39 The Singapore-based exchange will officially shutter on Nov. 30, 2025.Many lawmakers struggle to fully grasp the underlying technology, the diverse use cases, and the potential risks and benefits associated with digital assets. Curtis acknowledged that while 71 Democrats had joined Republicans in backing the repeal of the SEC s Staff Accounting Bulletin-121 (SAB-121), which restricted banks from holding crypto, this cooperation is still fragile. Curtis emphasised the importance of maintaining bipartisan cooperation, stating, If it becomes a partisan issue, weThis lack of understanding can lead to skepticism and resistance, particularly among Democrats who are more likely to prioritize consumer protection and investor safety.Further clouding the issue is the ever-present debate surrounding the role of government regulation in a space that was initially conceived as decentralized and resistant to centralized control. Bipartisan support for crypto is fragile Congressman John Curtis Octo By News Team Congressperson John Curtis, a United States representative for the state of Utah, took the stage at Permissionless III with Utah Senator Mike Lee to discuss the future of digital asset policy in the country.Balancing innovation with appropriate oversight remains a major challenge.

The Significance of SAB-121 and the Bipartisan Vote

The Staff Accounting Bulletin 121 (SAB-121) issued by the Securities and Exchange Commission (SEC) proved to be a contentious issue. 71 Democrats joined their Republican colleagues in a rare bipartisan effort to repeal the SEC s SAB-121 guidelines earlier this year. 风险提示：央行等十部委发布《关于进一步防范和处置虚拟货币交易炒作风险的通知》,请读者提高风险意识，理性看待区块链。This bulletin essentially created stricter accounting guidelines for companies holding digital assets on behalf of their customers, effectively discouraging banks from providing custodial services for crypto.Opponents argued that SAB-121 placed unnecessary burdens on the industry, hindering institutional adoption and stifling innovation.The bipartisan effort to repeal SAB-121 was seen as a significant victory for the crypto community, demonstrating that concerns about regulatory overreach could resonate with lawmakers from both parties.

The fact that 71 Democrats joined Republicans in voting to repeal SAB-121 highlighted a shared desire to foster a more balanced and pragmatic approach to crypto regulation.It also demonstrated that lawmakers are willing to challenge the SEC when they believe the agency is overstepping its bounds. Republican seeking to unseat Sherrod Brown said he sold all his BitcoinHowever, it's crucial to recognize that this vote was not necessarily an endorsement of all things crypto.Some Democrats may have voted against SAB-121 due to concerns about its impact on financial institutions or its potential to drive crypto activities offshore, rather than a wholehearted embrace of digital assets. NEW: ️ Michael Saylor outlines the path for MicroStrategy becoming a TRILLION DOLLAR company. I think it's infinitely scalable. I don't have any problem seeing how we could raise $100bn more capital and then $200bn after that.Therefore, Congressman Curtis’s caution is warranted.

Challenges to Sustaining Bipartisan Agreement on Crypto

Several factors contribute to the difficulty of sustaining bipartisan agreement on cryptocurrency policy:

Knowledge Gap: Many lawmakers lack a deep understanding of the technology and its implications.This makes it challenging to engage in informed policy discussions and can lead to fear-based decision-making.
Political Polarization: The current political climate is highly polarized, making it difficult to find common ground on any issue, including crypto.Partisan divides can overshadow rational discussions about the potential benefits and risks of digital assets.
Competing Priorities: Democrats and Republicans often have different priorities when it comes to economic policy and regulation.Democrats may be more focused on consumer protection and social justice, while Republicans may prioritize economic growth and limited government intervention. Congressperson John Curtis, a United States representative for the state of Utah, took the stage at Permissionless III with Utah Senator Mike Lee to discuss the future of digital asset policy in the country. When asked if the bipartisan cooperation on the repeal of Staff Accounting Bulletin-121 (SAThese differing priorities can make it difficult to reach consensus on crypto policy.
Lobbying Efforts: The crypto industry is facing increased scrutiny from powerful lobbying groups that have their own agendas.These groups can influence lawmakers and shape the narrative around crypto, making it more difficult to achieve bipartisan agreement.
Regulatory Uncertainty: The lack of clear and consistent regulatory guidelines for crypto creates uncertainty and confusion for businesses and investors. Bipartisan support for crypto is fragile Congressman John Curtis cointelegraph.com 19 m cointelegraph.comThis uncertainty can make it difficult to attract investment and foster innovation.

Strategies for Strengthening Bipartisan Support

Despite the challenges, there are several strategies that the crypto community can employ to strengthen bipartisan support for sensible regulation:

Education and Outreach: Invest in educational initiatives to help lawmakers and their staff better understand the technology, its potential benefits, and the risks involved. Discover the latest developments in the crypto world as bipartisan support proves fragile. Representative John Curtis calls for sensible regulation amidst grThis can involve hosting workshops, providing informational materials, and facilitating meetings with industry experts.
Building Relationships: Cultivate relationships with lawmakers from both parties. 🖥 At the Permissionless III event, Congressman John Curtis and Senator Mike Lee discussed the delicate state of bipartisan cooperation on cryptocurrency policy in the United States. Curtis emphasized the fragility of cross-party support, urging the crypto community to find common ground with Democrats to avoid partisan gridlock.Engage in open and honest dialogue, listen to their concerns, and address their questions. Bipartisan support for crypto is fragile Congressman John Curtis 71 Democrats joined their Republican colleagues in a rare bipartisan effort to repeal the SEC s SAB-121 guidelines earlier this year.This can help to build trust and foster a more collaborative approach to policymaking.
Highlighting Positive Use Cases: Showcase the positive use cases of crypto, such as financial inclusion, cross-border payments, and innovation in various industries.Demonstrate how crypto can benefit society and address real-world problems.
Addressing Concerns: Acknowledge and address legitimate concerns about the risks of crypto, such as money laundering, fraud, and market manipulation. Congressman John Curtis a United States representative for the state of Utah took the stage at Permissionless III with Utah Senator Mike Lee to discuss the future of digital asset policyPropose concrete solutions to mitigate these risks and enhance consumer protection.
Finding Common Ground: Focus on areas where there is potential for bipartisan agreement, such as developing clear and consistent regulatory guidelines, promoting innovation, and protecting consumers.Avoid focusing on divisive issues that could further polarize the debate.
Engaging with Regulators: Actively engage with regulatory agencies like the SEC and the CFTC to provide input on proposed regulations and share industry best practices.This can help to ensure that regulations are effective, balanced, and supportive of innovation.

Utah's Potential Leadership in Crypto Innovation

Congressman Curtis highlighted Utah's potential to lead in crypto innovation, pointing to the state's large number of cryptocurrency owners (estimated at 600,000). 71 Democrats joined their Republican colleagues in a rare bipartisan effort to repeal the SEC's SAB-121 guidelines earlier this year.This large user base creates a fertile ground for crypto-related businesses and technological advancements.Furthermore, Utah's generally pro-business environment and its commitment to technological innovation make it an attractive location for crypto companies to establish and grow.

Senator Mike Lee's Perspective

Senator Mike Lee, who joined Congressman Curtis at the Permissionless III event, likely shares a similar vision for Utah as a hub for crypto innovation. Bipartisan support for crypto is fragile Congressman John Curtis Posted on Octo by RJM Congressperson John Curtis, a United States representative for the state of Utah, took the stage at Permissionless III with Utah Senator Mike Lee to discuss the future of digital asset policy in the country.His presence at the event further underscores the state's commitment to fostering a supportive environment for the digital asset industry. Curtis also supported a bipartisan House resolution condemning regulatory overreach on crypto by the Securities and Exchange Commission. In the Senate, Curtis promised he would represent Utah s 600,000 cryptocurrency owners and said the state is especially well-suited to lead on crypto innovation.His insights regarding federal regulations provide another crucial perspective to further solidify Utah's leading role.

The Path Forward: Sensible Regulation and Bipartisan Collaboration

The key to unlocking the full potential of cryptocurrency lies in developing sensible and balanced regulatory frameworks that protect consumers and investors while fostering innovation. Bipartisan support for crypto is fragile Congressman John Curtis PANews ｜ 1:42 71 Democrats joined their Republican colleagues in a rare bipartisan effort to repeal the SEC s SAB-121 guidelines earlier this year.This requires a collaborative approach involving lawmakers, regulators, industry participants, and the broader community. Utah Congressman John Curtis and Senator Mike Lee give their thoughts about the future of crypto policy in the United States at the Permissionless III event. 암호화폐에 대한 초당적 지지는 취약하다 존 커티스 하원의원It's essential to prioritize education, engage in open dialogue, and address legitimate concerns about the risks of crypto.

What is Sensible Crypto Regulation?

Sensible crypto regulation should aim to achieve the following goals:

Protect Consumers and Investors: Implement measures to prevent fraud, market manipulation, and other harmful activities that could harm consumers and investors. 过去24小时全网爆仓1.18亿美元主爆空单，ape爆仓金额超过btcThis could include licensing requirements, disclosure rules, and robust enforcement mechanisms.
Promote Innovation: Create a regulatory environment that encourages innovation and allows crypto businesses to develop and deploy new products and services.Avoid imposing overly burdensome regulations that could stifle creativity and drive innovation offshore.
Provide Clarity and Certainty: Develop clear and consistent regulatory guidelines that provide clarity and certainty for businesses and investors. Trump Meme Coins Soar as Elon Musk Boosts Trump s Odds on PolymarketThis will help to attract investment and foster a more stable and predictable market.
Address Money Laundering and Terrorism Financing: Implement measures to prevent the use of crypto for money laundering and terrorism financing.This could include enhanced due diligence requirements and cooperation with law enforcement agencies.
Foster International Cooperation: Work with other countries to develop a harmonized approach to crypto regulation.This will help to prevent regulatory arbitrage and create a more level playing field for businesses operating across borders.

The Role of the Crypto Community

The crypto community has a crucial role to play in shaping the future of crypto regulation. Bipartisan support for crypto is fragile Congressman John Curtis 71 Democrats joined their Republican colleagues in a rare bipartisan effort to repeal the SEC s SAB-121 guidelines fromBy actively engaging with lawmakers, regulators, and the broader public, the community can help to educate, inform, and advocate for policies that are both sensible and supportive of innovation. Congressman John Curtis a United States representative for the state of Utah took the stage at Permissionless III with Utah Senator Mike Lee to discusThis includes:

Participating in industry associations and advocacy groups.
Contacting elected officials to express views on crypto policy.
Sharing knowledge and expertise with lawmakers and regulators.
Promoting responsible innovation and ethical practices within the industry.
Educating the public about the benefits and risks of crypto.

Conclusion: Maintaining Momentum for a Bright Future

Congressman John Curtis's warning about the fragility of bipartisan support for crypto serves as a vital call to action for the digital asset community.While the repeal of SAB-121 demonstrated the potential for cross-party collaboration, it's crucial to recognize that this cooperation is not guaranteed.By investing in education, building relationships, highlighting positive use cases, and addressing legitimate concerns, the crypto community can strengthen bipartisan support for sensible regulation and pave the way for a brighter future for the digital asset space. 71 Democrats joined their Republican colleagues in a rare bipartisan effort to repeal the SEC s SAB-121 guidelines earlier this year.Utah's potential to become a hub for crypto innovation, fueled by a large user base and a pro-business environment, further underscores the importance of fostering a supportive regulatory landscape.The industry must proactively engage with policymakers on both sides of the aisle to establish clear guidelines that encourage innovation while safeguarding consumers and investors.Ultimately, the success of the crypto industry hinges on its ability to build trust, demonstrate value, and work collaboratively with lawmakers to create a regulatory framework that fosters responsible growth and innovation.

Key Takeaways:

Bipartisan support for crypto is fragile and requires ongoing effort.
Education and outreach are crucial to bridge the knowledge gap among lawmakers.
Highlighting positive use cases and addressing concerns can build trust and consensus.
Sensible regulation should balance consumer protection with innovation.
The crypto community must actively engage in the policymaking process.

Call to Action: Contact your elected officials to express your support for sensible crypto regulation and encourage them to engage in informed dialogue with the crypto community. BTCUSD Bitcoin Bipartisan support for crypto is fragile Congressman John Curtis 71 Democrats joined their Republican colleagues in a rare bipartisan effort to repeal the SEC's SAB-121Together, we can shape a future where digital assets can thrive and benefit society as a whole.