Crypto is Going Mainstream and 'You Can’t Put the Genie Back in the Bottle,' Bitwise Says
2025-07-16 07:44:37
Main Idea
The U.S. is moving towards mainstream crypto adoption with legislative progress like the CLARITY Act and GENIUS Act, supported by major financial institutions and bipartisan political backing.
Key Points
1. The House of Representatives is voting on the CLARITY Act (crypto market structure) and the GENIUS Act (stablecoin regulation), signaling regulatory progress.
2. Bitwise CIO Matt Hougan emphasizes that crypto's mainstream integration is irreversible ('you can’t put the genie back in the bottle').
3. Past crypto failures (FTX, Terra/Luna, etc.) were attributed to lack of oversight, but clearer U.S. regulation may reduce extreme market crashes.
4. The GENIUS Act passed the Senate 68–30 with bipartisan support, including 18 Democrats, reflecting political momentum for crypto regulation.
5. Major financial institutions like JPMorgan, BNY Mellon, and Nasdaq are increasingly engaging with crypto, driven by regulatory clarity.
Description
The U.S. is on the verge of passing landmark crypto legislation, and if it succeeds, the impact could be profound, not only by unlocking growth, but by significantly reducing risk, asset manager Bitwise said in a report on Monday. The growth story is straightforward according to Bitwise. Regulatory clarity would empower major financial institutions, such as JPMorgan (JPM), BNY Mellon (BK), Nasdaq (NDAQ), to fully build in crypto, the report said. That means billions in new investment and a path ...
Latest News
- Q2 2025: From Balance Sheets to Benchmarks2025-07-16 16:20:29
- Ether Leads Crypto Market Higher as Bitcoin Attempts to Shrug Off Dip2025-07-16 16:20:05
- Bank of America Joins Stablecoin Rush as CEO Moynihan Says Work Already Underway2025-07-16 16:19:21
- It’s Time to Promote the Correct Crypto Allocation2025-07-16 16:18:55
- Altcoin Season Returns? Bitcoin Consolidates With ETH, SUI, SEI Among Those Taking Charge2025-07-16 16:15:30