Cryptocurrency industry leader, Aptos CEO, underscores the immediate need for regulatory guidelines in digital currencies during a hearing at Congress
In a recent testimony before the U.S. House Agriculture Committee, Avery Ching, CEO of Aptos Labs, called for the establishment of specific regulatory frameworks that keep pace with the rapid evolution of blockchain and digital assets. Ching emphasised that a regulatory environment that accompanies and enhances the digital revolution is crucial to ensure technological innovation brings concrete and sustainable benefits to society.
Ching highlighted the Aptos platform, which facilitates real projects in sectors such as decentralized finance, digital entertainment, and data management. The experience of Aptos Labs demonstrates the potential of high-speed, low-cost blockchain to drive real applications, ranging from digital entertainment to advanced data management systems.
However, the lack of a defined legal framework has created legal uncertainty, hindering the development of applications and tokens with tangible potential for society. Ching argued for the necessity and urgency of establishing precise regulations for blockchain technology and cryptocurrencies.
Following Ching's call to Congress, the regulatory framework for blockchain technology and cryptocurrencies in the United States is actively evolving with significant developments in 2025. The U.S. SEC is shifting from heavy enforcement toward a more constructive and transparent regulatory approach through initiatives like "Project Crypto," aimed at modernizing securities laws to support blockchain innovation and on-chain finance.
Key aspects of the current regulatory landscape include the SEC's dismantling of its aggressive crypto enforcement unit, replaced by a Crypto Task Force focused on establishing clear rules rather than punitive crackdowns. This restructuring encourages crypto engagement by reducing regulatory uncertainty and promoting innovation while maintaining protections against fraud and custody risks.
Project Crypto, launched by SEC Chairman Paul Atkins, is a comprehensive initiative to update securities regulations for digital assets. It aims to provide clear classification guidelines for crypto assets, facilitate tokenization of traditional securities, and enable decentralized finance (DeFi) trading platforms, among other objectives.
The GENIUS Act, passed by the House and Senate in mid-2025 and awaiting presidential signature, establishes federal standards for stablecoins, including mandatory reserve backing and priority claims in issuer bankruptcy. It explicitly excludes stablecoins from being classified as securities or commodities, though the secondary market remains largely unregulated.
Engagement between regulators and industry stakeholders has increased, with multiple SEC roundtables on topics such as staking, custody, DeFi, and tokenization, signaling a more collaborative and transparent regulatory process. President Trump’s administration supports making the U.S. a global crypto innovation hub, encouraging policies that balance regulatory clarity with fostering growth.
In summary, the U.S. regulatory framework for blockchain and cryptocurrencies is in a phase of modernization and structural reform, moving toward clearer, more comprehensive rules that integrate blockchain into traditional finance markets, without reverting to aggressive enforcement-only tactics. Legislative advances like the GENIUS Act and regulatory programs such as Project Crypto reflect a multi-pronged effort to promote innovation while addressing risks in this space.
Ching's testimony outlines a roadmap for Layer 1 projects, encouraging them to actively participate in the formulation of public policies. Effective collaboration between the technological community and government agencies can transform regulation into a strategic tool for sustainable development. A clear legal framework is essential to define responsibilities and rights for all actors involved in blockchain and cryptocurrencies, including users and regulators. Avery Ching, CEO of Aptos Labs, presented before the U.S. House Agriculture Committee, marking a comprehensive push towards a more mature, secure, and reliable crypto ecosystem in the United States.
The CEO of Aptos Labs, Avery Ching, emphasized the importance of a clear regulatory framework for blockchain technology and cryptocurrencies, as it can help drive real applications and foster technological innovation. This push towards regulatory clarity is evident in the active modernization of the U.S. regulatory framework, with initiatives like Project Crypto and the GENIUS Act aiming to create precise regulations that integrate blockchain into traditional finance markets.
Avery Ching's testimony also underscored the need for collaboration between the technological community and government agencies, suggesting that effective partnership can transform regulation into a strategic tool for sustainable development. This advocacy for a collaborative approach reinforces the call for a clear legal framework that defines responsibilities and rights for all actors involved in blockchain and cryptocurrencies, including users and regulators.
