Digital Asset co-founder and CEO Yuval Rooz urged crypto companies to expand institutional adoption before the next U.S. presidential election. Speaking at Token2049 in Singapore, Rooz argued that widespread blockchain use could make future policy reversals harder. 

His comments followed the CLARITY Act’s failure to advance in the Senate, prompting industry executives to discuss how to expand adoption while Congress considers broader crypto legislation. 

Rooz Urges Crypto Adoption Before the 2028 Election

Rooz said the industry should use the current regulatory environment to bring blockchain into wider use among financial institutions. He called for adoption to reach a point where, regardless of the outcome in 2028, ‘there is no going back.’

The next U.S. presidential election is scheduled for November 7, 2028. A change in administration could bring different regulatory priorities. Rooz presented broader adoption as a way to reduce the industry’s exposure to political changes, rather than relying entirely on support from the current government.

He compared the opportunity with the growth of Uber and Airbnb. In his account, both companies established widespread use before policymakers moved to restrict their services. He argued that the scale of adoption made attempts to reverse their progress more difficult.

Rooz’s comparison focused on building demand before political conditions change. His proposal called for companies to expand blockchain use during the current regulatory opening. Digital Asset identifies Rooz as its co-founder and CEO, while Canton’s website also lists him as the company’s CEO. 

Teng Backs CLARITY Act to Reduce Policy Uncertainty

During the same panel, Binance co-CEO Richard Teng said he hoped the CLARITY Act would still become law. He argued that legislation could help prevent regulatory backtracking and give institutions greater confidence to enter the crypto market.

Teng described the prospect of reversing current progress as ‘the biggest fear' for the industry. His comments focused on securing a legal framework that could support adoption beyond the priorities of one administration. Rooz, meanwhile, emphasized expanding use before the next presidential election.

The Senate failed to advance the CLARITY Act on September 15. A procedural motion received 49 votes in favor and 50 against, falling short of the 60 votes required. The vote blocked the attempt to move the bill forward but did not constitute a final vote on passage.

Senator Thom Tillis changed his vote from yes to no and then entered a motion to reconsider. The procedural move left open the possibility of another Senate vote later in the year. The legislation’s future therefore remained uncertain following the September setback.

Johnson Says Adoption Should Continue Without Waiting for Congress

Franklin Templeton CEO Jenny Johnson said legislation would provide greater certainty for the industry. However, she cautioned companies against depending on the CLARITY Act becoming law as they plan blockchain services and institutional expansion.

Johnson pointed to work by the Securities and Exchange Commission and the Commodity Futures Trading Commission under their existing authority. She said the agencies were already providing regulatory clarity, allowing innovation and institutional adoption to continue despite the legislative delay.

Her comments placed agency action alongside legislation as a route for progress. While Teng expressed hope for congressional approval, Johnson urged the industry to continue operating within the regulatory framework already available. She did not present the bill’s passage as a prerequisite for further adoption.

ALSO READ: US Stock Market: S&P 500, Nasdaq Futures Retreat After Record Highs as Oil, Yields Climb