Policymakers Dominate Crypto Influence in 2025
State of Crypto: Policymakers Dominated CoinDesk’s Most Influential 2025 List
CoinDesk has begun unveiling its annual “Most Influential” list, a retrospective ranking of the people who most shaped the crypto industry over the past year. The 2025 edition is notable for who rose to the top: policymakers, particularly in the U.S., who used executive and regulatory power to steer the direction of markets and industry priorities.
The list is designed to capture influence in all forms, CoinDesk said, ranging from builders and thought leaders who push the sector forward to bad actors whose actions can set it back. The common denominator is impact—positive or negative—on how crypto develops and is governed.
One central theme in the 2025 selections is how closely the industry’s trajectory has become tied to government action. CoinDesk pointed to a U.S. policy environment shaped by executive orders and increased pressure on Congress to advance crypto legislation. The publication also noted the growing role of affiliated crypto businesses in generating “billions of dollars’ worth of paper profits” since President Donald Trump returned to office earlier this year.
Regulators are also framing the next phase of market structure as a shift in how crypto is integrated into the financial system. In remarks introducing an initiative called Project Crypto, SEC Chair Paul Atkins said the agency should “holistically consider the potential benefits and risks” of moving markets “from an off-chain environment to an on-chain one,” tying that approach to Trump’s stated goal of making the U.S. “the crypto capital of the world.”
The broader backdrop is an intensifying global competition over where crypto activity—and the related economic benefits—will concentrate. CoinDesk highlighted an emerging policy fork in the road: by 2026, countries that implement clear regulatory frameworks and the infrastructure to integrate crypto into formal financial systems may be positioned to capture tax revenue, attract talent, and foster innovation. Jurisdictions that remain restrictive may see activity migrate to places with more developed frameworks.
The publication’s framing underscores why policymakers have become central characters in crypto’s story. In an industry that relies on access to banking, market venues, and legal clarity, decisions made by lawmakers and regulators can determine which products reach mainstream users, how companies operate, and where innovation settles.
