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Welcome to a special edition of the Now Newsletter.
Hope you’re well during all this madness. My name is Alejandro Navia.
Something seismic happened yesterday—and it can’t be ignored. Before we get into the details, it’s important to understand why this goes beyond a headline. If you’re building the future of crypto, this moment matters.
A mentor once told me that while building a business is powerful, being in the flow of policy is transformational.
That line stuck with me because policy isn’t just paperwork or politics. The invisible hand shapes markets, protects innovation, and determines which ideas get to scale.
As someone who lives at the intersection of tech and culture, I’ve long been fascinated by where code, capital, and governance collide. This curiosity is lived, not theoretical — shaped by years in policy: from campaign work and media building to think tanks, fellowships, and advising elected officials. I’ve seen how narratives shape laws, how markets respond to regulation, and how innovation rises or stalls based on who writes the rules.
On Wednesday, Paul Atkins was confirmed as the new chair of the SEC. More than a routine appointment, it marks a shift in tone — a signal that the door is finally opening for crypto. Let’s dive in.
Crypto’s Next Era: Governance, Power, and the Inside Track
I remember the first time I bought Bitcoin in 2014. Not on a whim, but on a calculated hunch that this technology was more than digital gold, more than money. It was sovereignty encoded in math. Freedom with a ledger. Back then, it was a bet made in the shadows of the financial system.
Today, it’s becoming policy.
Paul Atkins, a longtime free-market advocate and former SEC commissioner, has just been confirmed as the new Chair of the SEC. While mainstream headlines may treat this like another D.C. shuffle, those of us building at the frontier recognize the seismic shift:
This is the most pro-crypto appointment in the agency’s history.
It marks a shift few have fully grasped:
Crypto is no longer the outsider — it’s entering the age of governance.
The separation between code and Capitol Hill is closing fast. And for the prepared, this creates an unprecedented opportunity.
Clarity Creates Confidence
For years, crypto builders have operated in regulatory purgatory. One administration’s sandbox became another’s lawsuit. One week, you’re pioneering digital identity. Next, you’re subpoenaed for “unauthorized securities offerings.” Under Gary Gensler, the SEC has doubled down on enforcement without offering clear rules — preferring courtrooms over comment periods. In stark contrast, Paul Atkins represents a regulatory approach grounded in clarity, innovation, and due process. Where Gensler sees ambiguity as a tool for control, Atkins sees it as a failure of governance.
With Atkins at the helm, that fog will soon begin to lift, and those who understand this shift will gain first-mover advantage.
During his SEC tenure from 2002 to 2008, he opposed regulatory overreach and championed clear rules echoing what many in crypto have long called for: innovation-friendly policy that protects consumers without stifling entrepreneurs through ambiguity.
Anticipate this leadership change to pave the way for:
- New ETF approvals beyond just Bitcoin and Ethereum, opening capital floodgates from institutional investors still on the sidelines
- Definitive classification frameworks separating securities from commodities, eliminating the lawsuit roulette that has frozen innovation
- Predictable regulatory architecture for exchanges, DeFi protocols, and stablecoins that allows for long-term business planning
This approach doesn’t equate to deregulation but rather intelligent regulation. For entrepreneurs who have been hesitant due to regulatory fog, now is the moment to engage.
The Great Coupling: Sovereignty Through Strategic Integration
Some Bitcoin purists will balk. “This is capitulation,” they’ll say. “Crypto was supposed to be apolitical.” While the sentiment is understandable, the reality is that the landscape has evolved. The initial phase involved distancing from traditional financial systems; the next phase involves integrating with policy frameworks.
There’s an old adage in Washington: “If you’re not at the table, you’re on the menu.”
For too long, crypto has been served up — misunderstood, mischaracterized, and marginalized. Under former SEC Chair Gary Gensler, the agency created a hostile and confusing environment, using enforcement as a blunt weapon instead of providing clear guidance. It wasn’t regulation, it was regulation by intimidation.
But the true visionaries know this: if crypto is going to fulfill its promise of financial sovereignty, it needs more than code — it needs strategy. It needs a seat in D.C., in boardrooms, classrooms, and statehouses. Because the next era of innovation won’t be won in the shadows. It’ll be shaped where tech meets policy.
The signals are already there for those paying attention:
- The SEC’s decision to drop its lawsuit against Ripple, ending a four-year legal battle, indicates a shift in enforcement strategies.
- The SEC’s move to dismiss its case against Coinbase suggests a reevaluation of how exchanges are defined and regulated.
- Congressional hearings have shifted tone from combative to curious, with politicians on both sides recognizing the electoral power of crypto voters.
- The appointment of David Sacks, a veteran entrepreneur and tech investor, to the position of blockchain and AI czar.
- President Trump’s executive order establishing a strategic Bitcoin reserve and a digital stockpile.
These developments represent openings, not conclusions. They mark the beginning of a new chapter, one where builders can finally operate with confidence and clarity. It’s not the finish line; it’s the starting gun for a wave of opportunity grounded in regulatory sanity.
State Power in Play: The Case for Proactive Participation
As the federal government advances toward a more defined crypto regulatory framework, states must also take initiative rather than adopt a passive stance.
States possess the autonomy to shape policies, pilot innovative programs, and cultivate crypto-centric economies at the local level. As of this writing, 21 states have introduced policies and bills to establish strategic Bitcoin reserves.
Wyoming has set a precedent by issuing Special Purpose Depository Institution (SPDI) charters, enabling crypto companies to operate as banks and access traditional banking services.
Florida is contemplating legislation to invest state funds in Bitcoin, aiming to diversify its portfolio and hedge against inflation.
North Carolina is exploring cryptocurrency adoption, with new bills proposing state investments in digital assets.
State leaders should now:
- Introduce crypto-friendly charters and business frameworks.
- Support the establishment of Bitcoin reserves and stablecoin infrastructures.
- Form public-private councils to draft informed legislation.
We have moved beyond theoretical discussions; it’s time for implementation. States that act decisively will attract talent, capital, and cultural influence.
Conversely, those who hesitate risk missing out on the next industrial revolution.
The Strategic Imperative
With Atkins as chair, clarity is coming. But don’t mistake clarity for comfort or certainty for safety.
Policy is no longer a side quest. It’s the main event.
The most successful builders, investors, and citizens won’t just understand the shifting landscape — they’ll shape it. We’re not entering a golden age because Bitcoin “won.” We’re entering it because the system is beginning to adapt. And adaptation is the most bullish signal of all.
New questions will surface. That’s good for all of us. The future belongs to those brave enough to offer real answers.
One thing is certain: crypto’s no longer knocking on the door of power. It’s walking through it.
Welcome to the age of crypto governance. The shift has begun, and we’ll be here to help you make sense of it, stay ahead of it, and navigate the flow.
In case you missed it, my co-founder Matt Medved wrote a timely and much-needed piece on the state of the digital art market that’s sparking real conversation in art circles. He offers a clear-eyed take on where things stand — and how we move forward. Worth a read.
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