Southeast Asia is buzzing. From bustling Jakarta to vibrant Ho Chi Minh City, a new energy is palpable – the energy of blockchain innovation. From democratizing access to capital, to revolutionizing supply chains, to helping local communities rebuild through decentralized technologies—we’re witnessing a tech startup-led disruption of traditional finance. Investment is pouring in, talent is flourishing, and the sky seems to be the limit. Or does it?

Then comes the wrench in the works: the United States. And more specifically, Donald Trump.

Trump's Crypto Embrace: A Red Flag?

Let's be blunt: the recent failure of the GENIUS Act, a bipartisan attempt to create a clear legal framework for cryptocurrency in the US, is deeply concerning. And yet the shadow of Donald Trump looms large over its demise. It drew the ire of some Democrats—at first nine withdrew their support. They cited money laundering and national security concerns, but you have to ask whether fear of looking like they were supporting something that would help Trump, considering his sudden love for crypto, had something to do with it.

Think about it. It’s no wonder given that Trump-affiliated entities have collectively reportedly taken in at least $300 million – yes, million – in trading fees since January! His team is heavily involved in the promotion of meme coins. At the same time, the Trump-connected family crypto firm is massively investing in Binance. Senator Blumenthal has rightly called this idea “snake oil,” and I’m predisposed to agree. This doesn’t just have the appearance of conflict of interest, it’s a real stinker.

So what does all this have to do with Southeast Asia. Everything.

US Chaos: Southeast Asia's Opportunity, or Curse?

We know that the US, like it or not, remains the world’s most influential leader when it comes to finance and financial regulation. When the US fails to get its act together on crypto, it sows discord and uncertainty that echoes globally, hurting innovation and consumers worldwide. That ambiguity can quickly shift to caution from overseas investors evaluating Southeast Asia’s rising blockchain industry.

How could you lose by investing in a hot new Indonesian DeFi platform? The global regulatory landscape could be altered by a single late night emoji-filled tweet from Trump. It's a chilling effect, plain and simple.

You might think, "Well, Southeast Asia can just ignore the US and do its own thing!" And in an ideal world, that’s just what would occur. But the truth is, most Southeast Asian countries are just developing their regulatory frameworks. They're looking to global leaders for guidance. And if the “leader” is a trainwreck themselves, what type of mixed message does that create?

Here's the real fear: Trump's influence could spark a "race to the bottom" in crypto regulation. Countries, including our friends in Southeast Asia, know that they are making pitches to attract that investment. In their desperation, they’ll be tempted to compromise, sacrifice consumer protection and industry integrity as they loosen regulations.

Race to the Bottom: Undermining Trust?

Imagine a Southeast Asian country that is determined to position itself as a cryptocurrency center. To attract corporations, it offers some of the lowest enforcement standards in the country. It works! Investment pours in. Then one big scam comes along, killing the savings of thousands of hard-working average Americans. Trust in cryptocurrency, and blockchain technology more broadly, crashes. The entire region suffers.

Is this hyperbole? Maybe. But the potential for harm is real. We’ve watched history repeat itself like this in other industries.

Southeast Asian policymakers need to take control. They should not wait for Congress to act, but instead need to impose their own clear, strong, and independent regulatory frameworks on cryptocurrency. Frameworks that protect consumers, promote innovation, and don’t bend to the political tides of Washington.

This isn't about being anti-Trump. It's about protecting the future of Southeast Asia's blockchain revolution. And perhaps most importantly, it’s about establishing the foundation of a sustainable, equitable, and trustworthy ecosystem that works for all—not just the chosen few.

We need to ask tough questions: Are we willing to let the uncertainty in the US, potentially exacerbated by Trump's crypto dealings, derail the incredible progress we've made? Are we really prepared to gamble on a regulatory race to the bottom that breaks faith with the public and damages consumers?

This isn't about being anti-Trump. It's about protecting the future of Southeast Asia's blockchain revolution. It's about building a sustainable, trustworthy ecosystem that benefits everyone, not just a select few.

We need to ask tough questions: Are we willing to let the uncertainty in the US, potentially exacerbated by Trump's crypto dealings, derail the incredible progress we've made? Are we willing to risk a race to the bottom that undermines trust and harms consumers?

The answer, unequivocally, should be no. Southeast Asia deserves better.