After years of confusion and regulatory hostility to crypto assets, Washington is finally waking up to what President Trump understood on the campaign trail: cryptocurrency is the next frontier to economic freedom. It’s not a fad, but rather true innovation that rethinks how we can navigate free markets in the digital age.
On Monday, February 2, 2026, the White House convened executives from America’s largest banks and cryptocurrency companies as landmark legislation stalls in the U.S. Senate. Debate between these two powerful sectors has hinged on how regulation should advance market structure. The Senate bill, known as the CLARITY Act, acknowledges that existing rules fail to accommodate digital assets, leaving financial companies operating without legal certainty as the global crypto race gathers steam. It would build upon the GENIUS Act, signed into law by President Trump last year, that brought federal regulation and consumer protection to stablecoins.
The White House meeting carries more weight than simply the fate of Congressional legislation in 2026. It could determine whether America will embrace being the opportunity to remain crypto capital of the world or surrender leadership to foreign competitors, like authoritarian China and Russia or Europe’s overburdensome regulatory regimes. As Democrats remain hostile or indifferent to crypto’s technological advancements, it is incumbent upon Republicans to champion financial freedom, regardless of the form. Continued inaction will result in continued uncertainty for investors and paralysis for innovators.
America celebrates its 250th anniversary this year, and since our founding, conservatives have championed free market, limited government principles that have made us the economic powerhouse we are today. Cryptocurrency is simply the latest expression of these ideals, a new market that has exploded thanks to visionary entrepreneurs. Continued inaction will result in persistent uncertainty and paralysis for investors, stifling innovation at a time of rising great power competition.
But contrary to popular belief, the positive effects are not confined to Silicon Valley techno-optimists or Wall Street elites. Crypto is bringing tangible benefits to Americans across a range of socioeconomic backgrounds. A survey conducted by Echelon Insights last year of 4,000 “crypto voters” found that investor demographics largely hew to their national demographics, with black Americans strongly represented at 19%, while accounting for only 14% of the U.S. population. And Crypto owners are also split along partisan lines—37% Republican, 36% Democrat, and 24% independent—providing an opportunity to further expand the conservative tent. Consistent adherence to economic freedom will convince voters that Republicans embrace technological progress, a sentiment that will extend to artificial intelligence and other emerging industries.
As Alabama’s Attorney General, I have seen firsthand the realities of law failing to keep pace with technology. Complete regulatory ambiguity is not only detrimental to market stability, it exposes consumers, leaving Americans without clear legal safeguards. In December, I joined a coalition of 22 state and local law enforcement agencies in a lawsuit brought by the Federal Trade Commission against Uber. The rideshare company utilized deceptive and unfair marketing tactics that duped consumers into paying for subscriptions without their knowledge.
Similarly, crypto markets that lack structure and consumer protections will reduce trust and economic security in an emerging sector with exponential growth. The CLARITY Act would not bring heavy-handed government regulation that stifles innovation. It would create conditions that allow companies and consumers to operate with clear guardrails.
To many, cryptocurrency is still an obscure and confusing asset. Nevertheless, the global crypto market sits at approximately $3 trillion according to most estimates, with projections showing continued growth as more investors flood the market. Economies across the country, including those that support Alabama’s manufacturing, aerospace and agricultural leadership, stand to benefit. If the United States fails to lead on digital assets, we will lose vital strategic ground.
America was built on entrepreneurs, innovation, and technological advancements. Evolving to current market conditions will ensure this legacy continues.
Steve Marshall is Attorney General of the State of Alabama and a candidate for the GOP nomination for U.S. Senate.
