U.S. Cryptocurrency Legislation Expected to Propel Digital Assets into Mainstream

According to PANews, Bitwise Asset Management has indicated that upcoming U.S. cryptocurrency legislation is poised to facilitate the integration of digital assets into the mainstream market. Bitwise highlights that clearer regulations will enable major financial institutions such as JPMorgan Chase, BNY Mellon, and Nasdaq to expand their presence in the crypto sector, potentially attracting billions in new investments and transitioning trillions in traditional assets to blockchain technology. Bitwise further notes that the frequent crises in the crypto industry have largely been due to regulatory gaps, and the passage of this legislation is expected to mitigate extreme volatility and risk. The GENIUS Act has garnered bipartisan support in the Senate with a vote of 68 to 30, indicating diminishing political resistance. Wall Street and mainstream institutions are accelerating their entry into the crypto market, suggesting that digital assets will become deeply embedded in the financial system, making reversal difficult.