According to CoinDesk, asset management company Bitwise has stated that the upcoming cryptocurrency legislation in the United States is expected to drive digital assets into the mainstream market. Bitwise pointed out that regulatory clarity will enable large financial institutions such as JPMorgan Chase, Bank of New York Mellon, and Nasdaq to fully invest in the cryptocurrency sector, bringing in billions of dollars in new investments and driving trillions of dollars in traditional assets to migrate to blockchain. Bitwise also stated that in the past, the frequent thunderstorms in the cryptocurrency industry were mainly due to regulatory deficiencies, and the passage of legislation is expected to reduce extreme volatility and risks. In addition, the GENIUS bill received bipartisan support in the Senate with 68 votes to 30, indicating a weakening of political resistance. Wall Street and mainstream institutions are accelerating their entry, and in the future, encrypted assets will be deeply embedded in the financial system, making it difficult to reverse.
