United States cryptocurrency regulations need more clarity on stablecoins and banking relationships before lawmakers prioritize tax reform, according to industry leaders and legal experts.

“In my view, tax isn’t necessarily the priority for upgrading US crypto regulation,” according to Mattan Erder, general counsel at layer-3 decentralized blockchain network Orbs.

A “tailored regulatory approach” for areas including securities laws and removing “obstacles in banking” is a priority for US lawmakers with “more upside” for the industry, Erder told Cointelegraph.

“The new Trump administration is clearly all in on crypto and is taking steps that we could have only dreamed about a few years ago (including during his first term),” he said. “It seems likely that crypto regulation will be able to have it all and get much more clear and rational regulation in all areas, including tax.”

Still, Erder noted there are limits to what President Donald Trump can accomplish through executive orders and regulatory agency action alone. “At some point, the laws themselves will need to change, and for that, he will need Congress,” he said.

Trump’s March 7 executive order, which directed the government to establish a national Bitcoin reserve using crypto assets seized in criminal cases, was seen as a signal of growing federal support for digital assets.

Related: Trump turned crypto from ‘oppressed industry’ to ‘centerpiece’ of US strategy

Debanking concerns remain

Despite the administration’s recent pro-crypto moves, industry experts say crypto firms may continue to face difficulties with banking access until at least January 2026.

“It’s premature to say that debanking is over,” as “Trump won’t have the ability to appoint a new Fed governor until January,” Caitlin Long, founder and CEO of Custodia Bank, said during Cointelegraph’s Chainreaction daily X show.

The Crypto Debanking Crisis: #CHAINREACTION https://t.co/nD4qkkzKnB

— Cointelegraph (@Cointelegraph) March 21, 2025

Industry outrage over alleged debanking reached a crescendo when a June 2024 lawsuit spearheaded by ​​Coinbase resulted in the release of letters showing US banking regulators asked certain financial institutions to “pause” crypto banking activities.

Related: Bitcoin may benefit from US stablecoin dominance push

Stablecoin legislation could unlock new growth

David Pakman, managing partner at crypto investment firm CoinFund, said a stablecoin regulatory framework could encourage more traditional finance institutions to adopt blockchain-based payments.

“Some of the potentially soon-to-pass legislation in the US, like the stablecoin bill, will unlock many of the traditional banks, financial services and payment companies onto crypto rails,” Pakman said during Cointelegraph’s Chainreaction live X show on March 27.

“We hear this firsthand when we talk to them; they want to use crypto rails as a lower-cost, transparent, 24/7, and no middleman-dependent network for transferring money.”

The comments come as the industry awaits progress on US stablecoin legislation, which may come as soon as in the next two months, according to Bo Hines, the executive director of the president’s Council of Advisers on Digital Assets.

The GENIUS Act, an acronym for Guiding and Establishing National Innovation for US Stablecoins, would establish collateralization guidelines for stablecoin issuers while requiring full compliance with Anti-Money Laundering laws.

Magazine: SEC’s U-turn on crypto leaves key questions unanswered

A video of Ethereum co-founder Vitalik Buterin kneeling in front of a robot and seemingly letting out a “meow” sound has gone viral — and, as usual, the crypto industry is already speculating what it might mean for Ether’s future.

“The future of Ethereum is in this man’s hands… Meow,” crypto influencer Wendy O said in a March 29 X post. Cork Protocol co-founder Phil Fogel shared the video and commented that “so much” of his professional life and net worth depend on Buterin but reiterated that the entertaining interaction makes him “bullish.”

Community links video to Ether price speculation

Pseudonymous crypto trader Scott Crypto Warrior shared the video with his 514,300 X followers and said, “Pray for our ETH bags.”

The short clip shows Buterin on his knees, gesturing at a four-legged robot and letting out what sounds like a “meow” before patting it on the head. At the time of publication, Buterin has yet to address the video on social media himself.

Source: Rinor

Many of those commenting on the video allude to having Ether (ETH) in their portfolio, while its relative strength against Bitcoin (BTC) is at its lowest value in almost five years.

Crypto commentator, The Count of Monte Crypto said in a March 29 X post,” Sure, the man is free to do whatever he wants, why should we care, why should we care, however, the fact that a vast majority of my investment relies on this guy is making me a bit stressed.”

Pseudonymous crypto trader “sgp” said, “while Ethereum is doing -5% 1-minute candles, Vitalik is busy meowing at a robot.”

Source: Ali Bryant

Buterin’s quirky antics have always entertained the crypto industry. At Token2049 Singapore in September 2024, Buterin called out some “cringe” anthems for crypto projects and even started singing on stage, receiving a positive reaction from both the live audience and those on social media.

Meanwhile, since Ether reclaimed the $4,000 price level in December 2024, it has dropped nearly 55%.

At the time of publication, Ether is trading at $1,841, down 13.34% over the past month, according to CoinMarketCap data.

Ether is trading at $1,841 at the time of publication. Source: CoinMarketCap

Ether sitting below $2,000 has crypto trader Alex Becker convinced it is a prime long-term buying opportunity.

Related: Vitalik outlines strategy for scaling Ethereum and strengthening ETH

“I can’t fathom looking at a sub $2k ETH and thinking you’re not going to be in big profit sometime in the next 2 years. Easiest asset trade in biblical history right now,” Becker said in a March 29 X post.

Meanwhile, Castle Island Ventures’ Nic Carter recently said that Ether’s declining appeal as an investment comes from layer-2s draining value from the main network and a lack of community pushback on excessive token creation.

Magazine: Bitcoin ATH sooner than expected? XRP may drop 40%, and more: Hodler’s Digest, March 23 – 29

When a cryptocurrency exchange lists its first altcoin, it sets itself up for an endless cycle of launching memecoins, warns a Bitcoin-only institution executive.

“The minute an exchange adds one non-Bitcoin token, they are signing up to be on the forever hamster wheel of memecoins,” River Financial CEO Alex Leishman said in a March 29 X post. “It makes no sense to list ETH if you don’t list the tokens issued on ETH, and the same goes for Solana,” Leishman said.

River has no interest in building a “successful crypto casino”

Leishman said while there are many “successful crypto casinos,” he has no interest in building one. River Financial is a Bitcoin-only financial institution focusing on buying and selling Bitcoin (BTC).  Several companies have opted for the Bitcoin-only approach, including Swan Bitcoin, Bull Bitcoin, and decentralized exchange Bisq.

Leishman claimed that multi-asset trading platforms prioritize short-term speculation over wealth accumulation:

“The casino business model is built around maximal extraction from customers, and the Bitcoin-only model is focused on helping people build long-term wealth.” 

Critics have voiced this point before, even during the memecoin uptrend in early 2024. In April 2024, A16z chief technology officer Eddy Lazzarin said that memecoins hamper the long-term vision of crypto that has kept so many of the original builders in the space.

“At best, it looks like a risky casino,” Lazzarin said.

The memecoin market cap is down 27.94% over the past 12 months. Source: CoinMarketCap

The overall memecoin market cap has taken a significant downturn since the beginning of 2025. Since Jan. 1, the memecoin market cap has slumped almost 49% to $48.49 billion at the time of publication, according to CoinMarketCap data.

However, while altcoins have historically been more volatile than Bitcoin, offering them alongside Bitcoin has been a lucrative move for crypto exchanges and brokers. 

Related: Waiting for altcoin season? Data suggests it’s already here

On Feb. 12, Robinhood, which offers several cryptocurrencies to its customers, reported a 700% year-over-year surge in Q4 2024 cryptocurrency revenue.

Some traders seem to interpret a memecoin listing on an exchange as validation of its credibility. Among the 15 memecoins listed by crypto exchange Binance in 2024, 12 saw significant increases in value after going live on the exchange, pseudonymous onchain analyst Ai_9684xtpa said in November.

CoinGecko founder Bobby Ong recently speculated that the memecoin market might be headed toward an “extreme case of power law,” where 99.99% fail and a few rise to the top and endure.

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