I noticed that crypto has entered the U.S. Senate agenda with force. Just weeks before the banking oversight hearing, regulators are starting to move seriously.

The U.S. Office of the Comptroller of the Currency (OCC) issued proposed new rules to implement the GENIUS Act for stablecoins. These policies will set real standards for stablecoin issuers—from reserve requirements to how assets are stored and registration processes. OCC Chief Jonathan Gold said the goal is to create a safe regulatory environment where the industry can truly thrive.

What’s interesting is that the Federal Reserve has also begun to act. Michelle Bowman, Vice Chair for Supervision at the Federal Reserve, released her testimony just before the session, focusing on the GENIUS Act and digital assets. She said the Fed is working to clarify the treatment of digital assets and allow new activities after providing appropriate regulatory feedback. This marks a clear shift from the hesitant stance banks have maintained for years.

But not everyone is comfortable. Senator Elizabeth Warren sent a sharp letter demanding clarification on the quick approval of Erebor Bank’s license by the OCC. Warren pointed out that the bank’s backers were major donors to President Trump and the Republican Party, accusing this of potential political favoritism rather than following law and regulation. She said she will investigate the matter.

Meanwhile, Indiana is moving quickly. State lawmakers there approved a bill allowing public retirement plans to invest in Bitcoin and crypto ETFs. This places Indiana among at least 21 states investing in or evaluating digital assets for public funds. But at the same time, they voted to ban crypto ATMs statewide due to increasing scams—about $400,000 in crypto-related scams were reported in Evansville alone in 2025.

The scene is complex: on one hand, regulators and lawmakers recognize the importance of properly regulating crypto rather than ignoring it. On the other hand, there is real concern that this regulatory and banking effort could be influenced by political interests. What’s happening now will shape how crypto develops in the United States in the coming years.