By Rajwa Quasim

The Trump administration is turning to federal regulators to advance its crypto-friendly policies as cryptocurrency legislation stalls in Congress. Federal agencies such as the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have been directed to shape rules for the digital asset industry.

While cryptocurrency companies may gain some clarity in the short term, industry officials and legal experts warn that rules created by the SEC and CFTC may not provide the lasting certainty that legislation from Congress could offer. They could also be reversed by a future administration.

Cryptocurrency companies have spent hundreds of millions of dollars lobbying and…