The flow of cryptocurrency regulation in the U.S. Congress has begun to change significantly. From the public hearing held at the Senate Banking Committee at the end of last month, it feels less like they are simply tightening regulations and more like they are moving into a phase of how to integrate traditional finance with digital assets.

What stands out is that the federal regulatory authorities are shifting from “regulation through enforcement” to formal rulemaking. In other words, they are not planning sudden crackdowns, but instead aiming to build a clear rules framework. For users, this means that it should become more predictable how their assets are held, traded, and regulated.

The stablecoin yield issue was also a hot topic of debate. With the implementation of the GENIUS Act, issuers are moving toward a ban on paying interest directly to stablecoin holders. This reflects lawmakers’ concerns about “deposit outflows” from banks. However, there are also claims noting that there is still no evidence of large-scale capital movement. In the end, the question is whether stablecoins are merely a way to hold assets or a tool to generate revenue.

Another important development concerns the CLARITY bill. If it is passed, clear “rules” will be established for exchanges and wallet providers. That reduces the risk of sudden operational shutdowns caused by regulatory uncertainty. For the U.S. cryptocurrency market, this is quite significant.

Bank license applications are also moving forward. If crypto-native companies can obtain bank charters, it could lead to the creation of the first “cryptocurrency-prioritized banks.” That would create a platform enabling smooth movement between fiat currency and digital assets. However, strict standards such as the $5 million minimum capital requirement for stablecoin issuers may become a high hurdle for emerging startups.

In summary, U.S. cryptocurrency policy for 2026 is moving from ambiguity toward structure. Over the next 12 to 18 months, these proposed rules are expected to be finalized and implemented. From a user’s perspective, this public hearing suggests that digital assets are being positioned less as a temporary trend and more as a permanent part of the financial system.