The cryptocurrency regulations in the United States need more clarity, especially for Stablecoin and its relationship with the banking industry, before legislators prioritize tax reforms, according to industry experts and lawyers. According to Mattan Erder, legal advisor of the decentralized blockchain network Orbs, "taxes are not the top priority for upgrading cryptocurrency regulations in the United States."

Mr. Erder emphasized that securities laws and banking barriers need to be addressed first. With the new policy of the Trump administration, cryptocurrency is likely to have clearer and more reasonable regulations in all areas, including taxes. However, he also warned that real change requires Congressional intervention.

Concerns about banking access disruption remain. Despite the Trump administration's recent crypto-friendly moves, companies in the industry may still face banking access challenges until at least January 2026. Caitlin Long, CEO of Custodia Bank, noted that banking disruption has not completely ended because Trump could not appoint a new Fed governor until January.

A legal framework for Stablecoin could open up new developments. David Pakman, managing partner at cryptocurrency investment firm CoinFund, argued that passing stablecoin regulations could encourage many traditional financial institutions to transition to blockchain technology for payments. According to Mr. Pakman, many organizations currently want to use this technology to reduce costs and increase efficiency.

The GENIUS bill, aimed at establishing mortgage guidelines for stablecoin issuers and fully complying with anti-money laundering laws, could create new momentum for the financial industry in the United States. These moves are expected to bring a clear regulatory landscape and promote sustainable development for cryptocurrency in the coming time.