This year has proven to be a surreal, defining and triumphant turning point for a crypto industry that seemed barely viable two years ago. But many of the battles fought by the industry over the past 12 months are not over.
In fact, some are just warming up: 2026 could prove even more consequential for crypto, on topics ranging from regulation to market movements. Here’s a look at some key questions that experts say could define the next year for crypto and what their answers could mean for you.
We’ll start with the question that’s been on everyone’s minds for months when it comes to crypto policy: will the industry be able to pass its coveted market structure bill next year, or not?
Although crypto leaders have achieved more regulatory victories This year that almost anyone could have predicted, the jewel on their regulatory wish list remains elusive. A crypto market bill structure would formally – and permanently – legalize the vast majority of token issuers and intermediaries in the United States, finally giving the industry the legitimacy it has long craved.
But in recent months, some pessimism has gripped the D.C. crypto lobby regarding the bill’s chances of passage. Many well-connected insiders have said Decrypt They believe that, despite the positive aspects public signals. signals-The legislation is far too complicated and touches on too many political issues sensitive problemsto pass the Senate before Congress effectively shuts down this spring in anticipation of the 2026 midterm elections.
Ironically, some of these political leaders believe that recent aggressively pro-crypto moves by regulators like the SEC and CFTC have made the battle over market structure more urgent.
Increasingly, industry players are argue that with all these favorable changes in federal regulations, there is less need to immediately legislate or pass a bill that is not perfect.
“As soon as we get a token safe harbor, it’s game over for the market structure,” a crypto policy official said. Decryptreferring to a SEC Exemption for crypto projects expected to roll out in January.
Others are now openly questioning whether a market structure bill is really that crucial at this time. One senior industry official called his colleagues’ fixation on passing the bill in 2026 “market structure disruption syndrome.”
Regulators are making progress key. key victories For the industry, this will be difficult to dismantle under future administrations, the source said, and it is worth taking the time to get a good market structure in place, even if it will take a few years.
Meanwhile, regulators said they are moving forward with rewriting crypto rules, while saying they do not need to wait for Congress to act.
When asked whether the SEC needs additional authority from a new crypto law to regulate the industry the way it wants, agency Chairman Paul Atkins seemed dubious.
“We have pretty broad exemption authority, and it’s good that Congress gave it to us,” Atkins said. Decryptreferring to the Securities Act of 1933 and the Securities Exchange Act of 1934, which created the SEC during the New Deal.
“It gives us a very solid foundation,” Atkins said.
But other crypto policy insiders are worried. They argue that if they fail to pass a market structure bill in 2026, the industry will not only expose itself to future political volatility, but also waste a crucial opportunity to onboard millions of crypto-skeptical investors, who still view the sector as illegitimate.
“I can’t overstate how important I think this is,” said a senior crypto policy official. Decrypt to pass market structure legislation in 2026 – a goal they still believe is highly achievable.
The political leader highlighted the extent to which the bill could change the “current public perception” of crypto as a shady casino.
“Can the current administration do much to alleviate these problems? Yes, it can,” the political leader said. “But can it do as good a job as legislation? Absolutely not.”