At the recent Ondo Summit in Manhattan, speakers discussed the urgent need for crypto regulation and the challenges of legislative processes. Former Congress member Patrick McHenry emphasized the lengthy nature of SEC confirmations and legislative drafting, warning that while crypto legislation could be expedited, it might also take up to 18 months. McHenry urged industry professionals to engage proactively with regulators, highlighting the importance of building trust. Sandy Kaul from Franklin Templeton discussed the need for the industry to be both innovative and transparent in its communications with regulators, ensuring their comfort in moving forward. CFTC Acting Chair Caroline Pham noted that the agency is preparing for a significant CEO forum and highlighted the importance of a reasonable approach from the industry to regain credibility. Dan Morehead from Pantera Capital acknowledged the shift toward a more collaborative regulatory environment and the need to capitalize on the current momentum. McHenry concluded by stressing the critical nature of the upcoming 18 to 20 months for the crypto industry to influence regulatory outcomes positively.

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