Bitwise: US cryptocurrency legislation is expected to promote the full entry of digital assets into the mainstream market

PANews reported on July 16 that according to CoinDesk , asset management company Bitwise said that the cryptocurrency legislation that is about to be passed in the United States is expected to promote the full entry of digital assets into the mainstream market. Bitwise pointed out that clear regulation will enable large financial institutions such as JPMorgan Chase, Bank of New York Mellon, and Nasdaq to fully deploy in the crypto field, bring billions of dollars in new investment, and promote the migration of trillions of dollars of traditional assets to blockchain. Bitwise also said that the frequent explosions in the crypto industry in the past were mainly due to the lack of supervision, and the passage of legislation is expected to reduce extreme volatility and risks. In addition, the GENIUS Act received bipartisan support in the Senate with 68 votes to 30 , indicating that political resistance has weakened, Wall Street and mainstream institutions are accelerating their entry, and crypto assets will be deeply embedded in the financial system in the future and will be difficult to reverse.