Jillian Friedman, chief operating officer at Symbiotic, believes the biggest obstacle to crypto regulation has been political decision-making rather than a shortage of expertise among regulators. In a recent statement, Friedman emphasized that despite the growing institutional adoption of cryptocurrencies, regulatory frameworks remain fragmented and slow to develop due to a lack of consensus among policymakers.
As cryptos become increasingly viewed as assets that can generate long-term value, as evidenced by the holdings of companies like Strategy Inc. (NASDAQ: MSTR), regulation could evolve to catch up to these changing perspectives. Friedman noted that regulators have access to sufficient technical knowledge but often fail to act due to political gridlock. "The expertise is there," she said. "What's missing is the collective will to create clear, consistent rules that foster innovation while protecting investors."
The comment comes amid ongoing debates in the U.S. and globally about how to regulate digital assets. While some jurisdictions, such as the European Union with its Markets in Crypto-Assets (MiCA) regulation, have made progress, others remain stalled. Friedman pointed to the fragmented approach in the United States, where multiple agencies claim overlapping jurisdiction, creating uncertainty for businesses and investors.
Friedman's remarks align with a broader sentiment in the crypto industry that regulatory clarity is essential for mainstream adoption. She argued that political leaders must prioritize crypto regulation to ensure the U.S. remains competitive in the global financial landscape. "We're seeing other countries move forward with clear frameworks," she said. "If we don't act, we risk falling behind."
The Symbiotic COO also highlighted the role of public perception in shaping regulatory attitudes. As more institutional investors and corporations embrace cryptocurrencies, the pressure on politicians to establish sensible rules will likely increase. Friedman expressed optimism that the growing economic significance of digital assets would eventually overcome political inertia.
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