Crypto Policy: Insights from Jackson Hole Conference

Crypto Policy Takes Center Stage at Jackson Hole

Policymakers from various sectors convened at the SALT Wyoming conference in Jackson Hole this week, offering insights into the future of crypto regulation.

Key Takeaways from Policymakers

Despite Congress being in recess, the conference provided a platform for discussing crypto policy advancements and future expectations. Here are some notable comments:

• Senate Banking Committee Chair Tim Scott: "I believe that we'll have between 12 and 18 Democrats at least open to voting for market structure."
• Senator Cynthia Lummis: "We will have it on the President’s desk before Thanksgiving [referring to market structure legislation]."
• Franklin Templeton CEO Jenny Johnson: "Just imagine seeing on public equity all the transactions that go in and out of that company and how much information that gives you."
• Federal Reserve Vice Chair for Supervision Michelle Bowman: "We need a clear, strategic regulatory framework that will facilitate the adoption of new technology, recognizing that in some cases, it may be inadequate and inappropriate to apply existing regulatory guidance to address emerging tech."
• Federal Reserve Board Governor Chris Waller: "There is nothing to be afraid of when thinking about smart contracts, tokenization or distributed ledgers."
• Rep. Angie Craig, ranking member on the House Agriculture Committee: "It’s no secret that my side of the aisle would prefer not to see any sitting President — I won’t name one — participating in this market while a sitting president unless those assets are in a sealed trust."

Broader Economic Context

• Goldman Sachs: Expects U.S. consumers to bear the brunt of tariffs imposed by the U.S.
• Sony: Announced price increases for Playstation 5 consoles in the U.S. due to tariffs.
• Electronic Frontier Foundation: Wyoming and South Dakota enacted stringent age verification laws for websites hosting "any sexual content," impacting a range of non-pornographic material.
• The Wall Street Journal: Elon Musk is reportedly reconsidering forming a new political party, potentially supporting VP JD Vance and other Republicans instead.

These developments signal a potentially active period for crypto policy and regulation in the coming months. For projects navigating this evolving landscape, robust smart contract audits and KYC/AML compliance are essential, and Codeum is positioned to provide consulting services in these areas.