Wall Street and the cryptosphere are merging as crypto gains legitimacy. The SEC under Biden regulated crypto, but Trump reversed course, aiming to make the US the “crypto capital.” The government is embracing crypto with a bitcoin reserve and memecoins. Financial institutions are entering the digital asset market as crypto and traditional finance converge. The GENIUS Act creates a stablecoin regulatory framework, enticing companies like Bank of America and Citigroup to explore stablecoin offerings. Stablecoins are viewed as a bridge to crypto for cautious financial institutions and retailers. Real-world assets are being tokenized, with companies like Jarsy offering tokenized equities backed by companies like SpaceX. Regulators are scrutinizing tokenized equities, with laws like the CLARITY Act in the US shaping the future of tokenized assets. Critics argue for tighter regulations on crypto ventures under Trump, while proponents see blockchain technology as a way to improve the financial system.

Read more at Yahoo Finance: Stablecoins Are Here to Stay. Who Stands to Gain From Them?