The crypto industry transformed from a pariah into a major Washington power broker within a year. Heavy political spending and aggressive tactics won support from President Trump and lawmakers, producing long-sought legislative victories such as the Genius Act's stablecoin guardrails. Kristin Smith built Washington's crypto trade infrastructure, co-founding the Blockchain Association in 2018 and later leading the Solana Policy Institute while helping firms advocate through regulatory backlash after FTX. The industry spent over $200 million electing pro-blockchain candidates, prompted agency changes including at the SEC, and now pushes the broader Clarity Act, which faces tougher passage odds.
In just a year, the crypto industry went from pariah to power broker in Washington D.C. Boosted by a hefty warchest and bruising political tactics, companies like Coinbase and Ripple gained the support of President Trump, who repaid them by pushing through long-sought legislation for the sector. Key to those efforts was Kristin Smith, now the head of the Solana Policy Institute and the featured guest on the newest episode of Fortune's Crypto Playbook vodcast (available on Spotify, Apple, and YouTube).
After the crypto industry spent over $200 million to elect pro-blockchain candidates, including Trump, the efforts paid off as the new administration revamped the government's approach to oversight, cleaning house in agencies like the Securities and Exchange Commission and shepherding the Genius Act through Congress, which establishes guardrails for stablecoins. Now, the priority for D.C. advocates like Smith is advancing an even more ambitious bill that would revamp how U.S. financial markets operate
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