Crypto is now so entrenched in the U.S. financial system—with bipartisan momentum and Wall Street alignment—that no future administration can unwind it, an expert explained.
Can Future Administrations Shut Down Crypto? Not After What Just Happened
Mounting bipartisan support and deep institutional adoption are anchoring U.S. crypto legislation, signaling a long-term policy shift that future administrations will struggle to unwind. Bitwise Chief Investment Officer Matt Hougan stated on July 17 on social media platform X that the fear of incoming administrations undoing digital asset legislation is unfounded.
After the House of Representatives passed three crypto bills on Thursday, Hougan posted:
People are going to ask if today’s legislative gains will be reversed by future Administrations. The answer is ‘no,’ as I wrote about in this week’s Bitwise CIO Memo. You can’t put the genie back in the bottle.
His comments followed a string of wins for crypto advocates seeking regulatory clarity. In his July 14 memo, Hougan argued that crypto is one of the few issues in Washington enjoying bipartisan support, but he emphasized that the durability of that support rests on more than political alignment.
The Bitwise chief investment officer pointed to structural incentives now binding the financial system to crypto, noting that key stakeholders—especially in traditional finance—are aligning with the asset class. “The U.S. financial industry—traditionally a leading funder of the Democratic Party—is eager to tap into the growth and opportunities that crypto offers,” he wrote, citing investor interest as a force making opposition increasingly costly for lawmakers.
Institutional adoption, Hougan explained, is not limited to a few firms. He stated: “Consider this: Today, nearly every major financial institution in the U.S. has some level of crypto initiative.” The executive added:
If Blackrock, JPMorgan, and Morgan Stanley are significantly invested in crypto—along with thousands of American companies and millions of Americans—it becomes increasingly hard to imagine politicians reversing course.
That growing web of involvement, he argued, has transformed crypto into a political and economic reality that transcends party shifts.
