Honestly, I think the Satoshi Action Fund initiative could really shake things up for Bitcoin in the US. They are pushing several states to adopt pro-Bitcoin regulations, which could create a domino effect. If one state starts seeing more and more companies and startups getting into Bitcoin, others might not want to be left behind.
The initiative is well intentioned but it is not enough until the government does hear them out and do implement what the community has been asking for. For now though, this non profit organization has been able to pass some policies in a few states in the US. The best situation is still for the entire country or at least most of the states to acknowledge bitcoin and the policies needed to protect those who use and hold it.
I am curious to see if this wave of pro-Bitcoin regulations could motivate lesser-known crypto projects to seek their own regulation and legitimacy if it succeeds in the US...
Definitely. More recognition from the government and policies that benefit crypto will entail confidence among those crypto projects. Small projects now wouldn’t want to risk being at the wrong side of the law but with more positive outlook from the government, I am sure they will be more motivated and not just those in the US. Some may even travel to US and build their projects there if all things go well.