EDITORIAL: Regulation Without Representation — What the Crypto Crackdown Gets Wrong

By Bass Public Affairs

Published via BPA Livewire

Washington has a habit of reacting — not leading.

That pattern is playing out once again in the halls of Congress, where digital asset regulation has turned into a headline-driven sprint rather than a values-driven strategy. With every scandal — FTX, Celsius, the latest blockchain-based Ponzi scheme — the calls grow louder for “crackdowns,” often without clarity or consequence.

At Bass Public Affairs, we believe that government should protect people, not paralyze innovation. That starts with something often missing in today’s financial policy debates: representation.

Digital assets aren’t just for Silicon Valley billionaires and Reddit-fueled day traders. They are becoming part of the financial lives of everyday Americans — from single mothers using crypto remittances to small business owners seeking Web3 capital access. And yes, from underserved communities long excluded from traditional banking.

When Washington regulates without those voices at the table, it fails. It risks entrenching the very inequities digital finance promised to dismantle.

That’s why Chairman Tim Scott’s recent Senate Banking Committee hearing on consumer protection and oversight of digital assets matters. It wasn't just about reining in rogue platforms — it was about getting serious. Bringing sunlight to gray areas. Asking hard questions, and refusing to let fear or fads drive the narrative.

Senator Scott’s call for a rules-based, transparent framework wasn’t political theater — it was policy leadership. The kind that says to investors and innovators alike: You have a future in America. But you also have responsibilities.

At BPA, we advocate for solutions rooted in freedom and fairness. Regulation should be a bridge, not a barrier. Policymakers must listen not just to the loudest voices, but to the smartest, quietest, and often most overlooked.

This is a defining moment. Not just for crypto. But for how we shape systems that serve the public in a digital age.

Let’s get it right — together.

Bass Public Affairs is a strategic communications and public affairs firm committed to helping bold voices shape the policy and cultural conversations that matter most. Learn more at basspublicaffairs.com/livewire.