Mending crypto’s reputation on Capitol Hill, tarnished in the wake of crypto exchange FTX’s collapse, will require continuing to engage with U.S. policymakers, according to Kristin Smith, executive director of the Blockchain Association.

“We're going to see a number of bipartisan legislative proposals that are put forth that are going to be very much vetted and debated by multiple committees in Congress, and that we really could see some momentum around getting some legislation done,” Smith said.

“What we don’t want them doing is rushing through legislation that hasn’t been vetted or that nobody understands,” Smith said. She said now is the time for lawmakers to ask questions to get to the bottom of what happened at FTX, especially what happened to the customer funds that were lost in the shuffle.