Alex Drylewski, co-head of Skadden's Web3 and Digital Assets Group, discusses the significant shift in U.S. crypto policy under the Trump administration with host Joseph Kamyar. Alex highlights recent regulatory developments, including the executive order on "Strengthening American Leadership and Digital Financial Technology" and the SEC's formation of a new crypto task force. He shares insight into how these changes signal a pro-innovation environment for crypto builders while still emphasizing fraud prevention. Alex predicts that 2025 will bring increased institutional engagement by non-crypto native players, comprehensive legislation and continued private litigation as the industry seeks the regulatory clarity it has long desired.

Top takeaways from this episode

• Policy Shift: The Trump administration's executive order marks a philosophical change from the previous executive order and emphasizes protection and promotion of innovation, regulatory clarity and technology access rather than focusing on perceived risks.
• SEC Reforms: The SEC has established a crypto task force dedicated to developing a comprehensive regulatory framework, with a focus on drawing clear regulatory lines and
• Institutional Momentum: Traditional financial institutions are expected to increase engagement with crypto assets following the rescinding of SAB 121, which will allow financial institutions to now hold crypto assets on behalf of their customers without incurring the balance sheet and capital impacts.

Name: Joseph Kamyar

Title: European Counsel, Corporate at Skadden

Specialty: “Fintech Focus” host and European counsel Joseph Kamyar advises on a wide variety of corporate transactions, including cross-border private mergers and acquisitions, fundraisings, joint ventures, corporate reorganizations and general corporate matters, with a particular focus on the financial services, technology and media sectors.

Connect: LinkedIn | Email

Name: Alex Drylewski

What he does: Alex Drylewski focuses on high-stakes complex commercial litigation around the world. He has represented companies and individuals across a wide range of industries and disputes, including high-profile litigation involving emerging technologies, government investigations, securities class actions, trials and appeals.

Organization: Skadden

Words of wisdom: “While this order leaves a lot of questions and details unanswered at the moment, it's generally been viewed as a very positive first step in fostering a more innovative pro-crypto environment for digital asset and blockchain-related builders in the...