Crypto / Digital Asset Policy

Where it stands

Each step compares the last four complete quarters with the two years before. A theme usually moves left to right: companies push, Congress and the White House act, the government buys, and markets respond.

1. 1. Companies pushing
   Steady

   310 companies and groups lobbied on it in Q2 2026, against 264 a year earlier. Its super PACs spent $141.7M in the last four quarters.

2. 2. Congress
   Steady

   19 bills introduced and 0 became law in the last four quarters, against 19 and 1 a year before that.

3. 3. White House and agencies
   Rising

   18 proposed rules, 3 final rules and 0 presidential actions in the last four quarters, against 5 a year before that.

4. 4. Government buying
   Falling

   5 purchase plans and award notices in the last four quarters, against 19 a year before that (records start October 2023).

5. 5. Markets
   Steady

   9 insider purchases in the theme's companies in the last four quarters, against 11 a year before that. Their stocks: -26% over the same year, against +14% for the S&P 500. Among the 50 largest holdings of the funds we track, these stocks were worth $25.1B at the end of Q1 2026, against $22.4B a year earlier; the figure moves with prices and with how many funds rank them that high.

The setup

The US government is pursuing a dual-track approach to digital assets: establishing regulatory clarity and encouraging innovation while simultaneously increasing surveillance capabilities and scrutinizing energy consumption. This is evidenced by significant legislative movement on market structure and self-custody, alongside an executive order promoting fintech, and substantial federal contracts for blockchain analytics.

How this developed

1. Jul 15, 2025The Keep Your Coins Act of 2025 (S2284) is introduced, aiming to prohibit federal agencies from restricting self-custody of digital assets.Bill
2. Nov 20, 2025The Clean Cloud Act of 2025 (HR6179) is introduced, proposing direct emissions fees on data centers and cryptomining facilities over 100 kW.Bill
3. Mar 30, 2026IRS awards CHAINALYSIS GOVERNMENT SOLUTIONS, LLC a $10.9M contract for enterprise subscription and support.Federal contract
4. May 19, 2026Executive Order issued, directing federal financial regulators to review and streamline regulations hindering fintech innovation and requesting the Federal Reserve to evaluate expanding access for non-bank and digital asset firms.Executive action
5. Jun 1, 2026The Digital Asset Market Clarity Act of 2025 (HR3633) is placed on the Senate Legislative Calendar, establishing clear jurisdictional boundaries for digital assets.Bill
6. Sep 15, 2026House Small Business Subcommittee schedules a meeting titled “Main Street Meets Crypto: What Digital Assets Mean for Small Businesses.”News
7. Sep 15, 2026HR 10399 introduced, directing the Small Business Administration to help small businesses evaluate digital assets.Bill
8. Oct 13, 2026The Make Data Centers Pay Act (HR10809) is introduced, requiring data centers and high-density computing facilities >=20 MW to bear incremental grid upgrade costs.Bill

The full story, year by year

* Year to date. Lobbying is the most companies and groups naming the theme in any one quarter. Insider buys are officer and director open-market purchases in COIN, HOOD, MSTR, CRCL, CLSK, EXOD, RIOT (CLSK from Dec 2020, MSTR from Aug 2020, RIOT from Oct 2017, when each entered the business). Fund holdings are the value of these companies among the top 50 positions of the funds whose 13F filings we track, at the latest quarter of each year. Stock returns are an equal-weight basket of the same companies with prices on file, split-adjusted, without dividends, against the S&P 500 over the same quarters.

• Lobbying before 2025 comes from filings that name the theme; the full lobbying archive is still loading.
• Lobbying reports for Q3 2026 are still being filed, so the comparison uses Q2 2026.

Why it matters

• Congress is actively pursuing legislative clarity for digital assets, with HR3633 reaching the Senate Calendar, indicating serious intent to define regulatory boundaries for the CFTC and SEC.
• The executive branch, via EO, is pushing financial regulators to reduce barriers for fintech and digital asset firms, potentially expanding their access to traditional financial infrastructure like Federal Reserve payment systems.
• Federal agencies are investing in blockchain surveillance, as shown by the IRS's $10.9M contract with Chainalysis, signaling increased enforcement capabilities for digital asset transactions.
• There is a growing legislative focus on the energy consumption of crypto mining and data centers, with bills like HR6179 and HR10809 proposing direct fees or cost burdens for grid upgrades.

Companies exposed to this theme

The record · 8 items, oldest first

• Jul 15, 2025BillKeep Your Coins Act of 2025
• Nov 20, 2025BillClean Cloud Act of 2025
• Mar 30, 2026Federal contractCHAINALYSIS GOVERNMENT SOLUTIONS, LLC: CHAINALYSIS ENTERPRISE SUBSCRIPTION & SUPPORT.
• May 19, 2026Executive actionExecutive Order: Integrating Financial Technology Innovation into Regulatory Frameworks
• Jun 1, 2026BillDigital Asset Market Clarity Act of 2025
• Sep 15, 2026News“Main Street Meets Crypto: What Digital Assets Mean for Small Businesses.”
• Sep 15, 2026BillTo amend the Small Business Act to help small business concerns critically evaluate digital assets, and for other purposes.
• Oct 13, 2026BillMake Data Centers Pay Act

Some keyword matches were judged unrelated to this theme and are excluded from the record above.

How this story evolved

• Oct 16, 2026, 5:13 AM ETreal13 recordslatest record Oct 13, 2026

  Congress advances crypto regulatory clarity while Treasury expands blockchain surveillance and new bills target mining energy use.

  The US government is pursuing a dual-track approach to digital assets: establishing regulatory clarity and encouraging innovation while simultaneously increasing surveillance capabilities and scrutinizing energy consumption. This is evidenced by significant legislative movement on market structure and self-custody, alongside an executive order promoting fintech, and substantial federal contracts for blockchain analytics.

• Oct 15, 2026, 5:14 AM ETreal13 recordslatest record Oct 13, 2026

  FinCEN and ICE renew crypto tracing contracts, while IRS and SEC seek new digital asset analysis tools.

  The US government is actively expanding its capabilities to monitor and analyze digital asset transactions, with a clear focus on financial crime, tax compliance, and market surveillance. This effort is spearheaded by Treasury agencies like FinCEN and the IRS, alongside Homeland Security Investigations and the SEC, indicating a coordinated push to integrate digital asset oversight into existing regulatory and enforcement frameworks.

• Oct 14, 2026, 5:15 AM ETreal11 recordslatest record Sep 15, 2026

  Congress advances crypto regulatory clarity and tax reform while White House pushes fintech innovation.

  The US government is actively shaping the future of digital assets through a combination of legislative efforts and executive directives. While some bills aim to protect self-custody and clarify market regulation, others propose new tax frameworks and environmental fees. The White House is also pushing for fintech innovation and broader access to financial services for digital asset firms.

• Oct 13, 2026, 5:13 AM ETreal11 recordslatest record Sep 15, 2026

  Executive Order directs federal regulators to streamline fintech rules, evaluate Fed access for digital asset firms.

  The US government is actively shaping the regulatory landscape for digital assets and financial technology, with a clear push towards integrating these innovations into existing frameworks. This effort is driven by both legislative proposals seeking clarity and executive action aimed at reducing barriers and fostering innovation. The most significant recent development is an Executive Order directing federal financial regulators to review and streamline regulations, and for the Federal Reserve to evaluate expanded access for non-bank and digital asset firms.

• Oct 12, 2026, 5:13 AM ETreal10 recordslatest record Sep 30, 2026

  Congress advances bills to clarify digital asset regulation, while an Executive Order pushes fintech innovation.

  The US government is actively working to establish a regulatory framework for digital assets, with significant legislative efforts aimed at clarifying jurisdiction and an Executive Order promoting fintech innovation. This push for clarity and integration comes amidst ongoing debate about the classification and oversight of cryptocurrencies and blockchain technology.

• Oct 11, 2026, 5:14 AM ETreal10 recordslatest record Sep 30, 2026

  Treasury and State ramp up crypto tracing and digital forensics as Congress advances regulatory frameworks and the White House pushes fintech integration.

  The US government is rapidly building out its capabilities to track, regulate, and integrate digital assets. This effort spans law enforcement, tax collection, and broader financial policy, with significant legislative and executive actions complementing agency-level procurements. The focus is on both combating illicit finance and fostering innovation within a clearer regulatory environment.

• Oct 10, 2026, 5:13 AM ETreal10 recordslatest record Sep 30, 2026

  Congress advances multiple bills to establish CFTC oversight for digital assets and clarify SEC jurisdiction, while the White House pushes fintech innovation.

  The US government is actively working to establish a comprehensive regulatory framework for digital assets, with significant legislative efforts aimed at clarifying jurisdictional boundaries between the CFTC and SEC. This push for clarity is complemented by an executive order encouraging fintech innovation and reducing regulatory hurdles. The activity signals a shift towards integrating digital assets into the mainstream financial system, rather than outright restriction.

• Oct 9, 2026, 5:13 AM ETreal10 recordslatest record Sep 30, 2026

  Treasury and State ramp up crypto tracing and digital forensics as Congress advances regulatory frameworks.

  The US government is actively building out its capabilities to track and regulate digital assets, with a dual focus on financial crime enforcement and establishing a clearer regulatory environment. This effort spans multiple agencies, from FinCEN's cryptocurrency tracing tools to the IRS's need for digital asset tax computation, alongside legislative pushes for comprehensive federal oversight.

• Oct 8, 2026, 5:13 AM ETreal10 recordslatest record Sep 30, 2026

  Treasury and State ramp up crypto tracing and digital forensics as Congress pushes for regulatory clarity and small business education.

  The US government is actively building out its capabilities to track and regulate digital assets, driven by both law enforcement needs and a push for clearer financial frameworks. This effort spans multiple agencies, from FinCEN's crypto tracing tools to the IRS's need for digital asset tax computation, alongside legislative attempts to establish federal oversight and educate small businesses.

• Oct 7, 2026, 5:40 AM ETreal10 recordslatest record Sep 30, 2026

  Treasury and State ramp up crypto tracing and digital forensics as Congress advances regulatory frameworks.

  The US government is actively building out its capabilities to track and regulate digital assets, with a dual focus on financial crime enforcement and establishing a clearer regulatory environment. This effort spans multiple agencies, from FinCEN's cryptocurrency tracing tools to the IRS's need for digital asset tax computation, alongside legislative pushes for comprehensive federal oversight.

• Oct 6, 2026, 5:13 AM ETmixed12 recordslatest record Sep 30, 2026

  Congress advances multiple bills to clarify digital asset regulation, while an Executive Order pushes fintech integration.

  The US government is actively working to establish a clearer regulatory framework for digital assets and integrate financial technology innovations. This effort is primarily driven by legislative action in Congress, with several key bills moving through both chambers, alongside an Executive Order aimed at streamlining fintech regulations. The goal appears to be reducing uncertainty for the crypto industry while encouraging broader adoption of digital financial services.

• Oct 5, 2026, 5:13 AM ETreal10 recordslatest record Sep 30, 2026

  Congress advances bills to clarify crypto regulation under CFTC, while an Executive Order pushes fintech innovation.

  The US government is actively working to establish a clearer regulatory framework for digital assets, with significant legislative efforts aimed at defining jurisdictional boundaries for federal agencies. Simultaneously, an Executive Order signals a push to integrate financial technology innovation, including digital assets, into existing regulatory structures. This dual approach seeks to provide certainty for the burgeoning crypto industry while also addressing concerns like money laundering.