TLDR
- Tether’s Jesse Spiro warned the 2026 midterms could have a “seismic impact” on crypto policy
- Recent legislative wins like the GENIUS Act could be reversed after the elections
- Crypto advocacy groups are ramping up political spending and voter mobilization
- Stand With Crypto has nearly 3 million members ready to hold politicians accountable
- Industry leaders say crypto must remain non-partisan to secure durable policy wins
Crypto industry leaders gathered at Consensus Miami 2026 this week to talk about what they see as a critical moment for digital asset policy in Washington.
JUST IN: Tether's top exec warns the 2026 midterms could deliver a "seismic impact" on crypto regulation.
No specific bill named. But the signal is clear: policy risk is back on the table. pic.twitter.com/CN4uwnJ0QX
— Wizzy (@WizzyOnChain) May 7, 2026
Jesse Spiro, Head of Government Affairs at Tether, told attendees that the 2026 U.S. midterm elections will be a major test for the industry’s recent political gains.
“What we’ve seen is a lot of good immersion and progress over the last year,” Spiro said. He pointed to the passage of the GENIUS Act and ongoing work on market structure legislation as examples of that progress.
But he cautioned that the elections could upend what has been built. “As with anything else, the apple cart can always get upset,” he said.
Spiro used the phrase “seismic impact” to describe how the midterms could shape the industry’s direction, even as crypto groups prepare to spend heavily on the November elections.
He also stressed that the industry should avoid taking sides along party lines. “Crypto should not be partisan,” Spiro said. “Best case is that we have members that are supportive of the industry, supportive of the ecosystem, supportive of good policy.”
Growing Political Muscle
Other speakers at the panel said the industry’s political reach is expanding heading into the fall.
Colin McLaren, Head of Government Relations at the Solana Policy Institute, said the focus now is on making policy wins last. He said the industry needs to keep pushing on priorities like tax reform and developer protections.
“You can make the down payment on a house, but you’ve got to keep paying the mortgage,” McLaren said, referring to the hundreds of millions the crypto industry spent during the 2024 election cycle.
McLaren said the goal is ensuring future congressional leadership continues to advance pro-crypto policy, not just winning individual votes.
Voter Mobilization Efforts
Mason Lynaugh, Executive Director of Stand With Crypto, said the group’s nearly 3 million members see elections as an accountability moment for lawmakers.
“They’re going to show up and support the people that supported them,” Lynaugh said.
He added that crypto voters are motivated and could make a real difference in tight races. “If something is decided by 4,000 votes, 5,000 votes … all we have to do is turn them out,” he said.
Pro-crypto organizations are also working to influence which candidates receive campaign funding ahead of November.
The GENIUS Act, which governs stablecoin regulation, and the CLARITY Act on market structure are among the legislative wins that industry leaders say remain at risk if the political makeup of Congress shifts after the midterms.
Spiro’s comments came as part of a broader panel discussion at Consensus Miami 2026, one of the largest annual gatherings in the crypto industry.
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