Cryptographs drive escape speed – future presidents can’t stop it now

Crypto is currently rooted in the US financial system (bipartisan momentum and Wall Street cooperation). Future administrations cannot release it, experts explained.

Will the future administration be able to close the code? Not after what happened

Bipartisan support and deep institutional adoption have fixed US cryptography and indicate long-term policy changes that will struggle to unlock future administrations. Bitwise Chief Investment Officer Matt Hougan said on social media platform X on July 17 that the fear of revoking the Digital Assets Act was unfounded.

After the House passed three crypto bills on Thursday, Hougan posted:

People will ask whether today’s legislative interests will be reversed by future administrations. As I wrote in this week’s Bitise CIO memo, the answer is “No.” You cannot return the demon to the bottle.

His comments followed a string of victories for code supporters seeking clarity in regulations. In a July 14 memo, Hougan argued that Crypto is one of the few issues that enjoy bipartisan support in Washington, but he emphasized that the durability of that support is greater than political alignment.

Bitwise Chief Investment Officer now points to structural incentives binding the financial system to cryptographically, noting that key stakeholders, particularly those in traditional finance, are working with asset classes. “The US financial industry, the leading Democrat funder, is eager to take advantage of the growth and opportunities Crypto offers,” he writes, citing investors’ interest as an increasingly expensive force for lawmakers.

According to Hougan, institutional recruitment is not limited to a small number of companies. He said: “Think about this. Today, almost every major US financial institution has some degree of crypto initiative,” the executive added:

When BlackRock, JPMorgan, and Morgan Stanley are heavily invested in cryptography, it becomes increasingly difficult to imagine politicians turning the course back, along with thousands of American companies and millions of Americans.

He argued that its growing web of involvement had changed the code into political and economic realities that transcend party change.