A shift in US policy towards cryptocurrency is becoming increasingly evident as both parties look to strengthen the US dollar's position on the world stage.
Potential Growth of Bipartisan Initiative
US Representative from California, Democrat Ro Khanna, claims that at least 70 party members support the need for stablecoin regulation. Khanna assures that sensible crypto market structure and stablecoin bills are expected this year, although current economic conditions do not favor a significant rise in crypto prices.
Investment in DeFi and Blockchain
Ethena Labs and Securitize have launched the Converge blockchain to increase retail and institutional investments in DeFi and tokenized assets. Converge will leverage Securitize's RWA infrastructure, providing solutions for institutional investors.
Institutional Access to Digital Assets
Canary Capital has filed for an SEC-approved exchange-traded fund (ETF) tied to the SUI token. This is another attempt to expand institutional access to digital assets following the success of Bitcoin ETFs.
Political support for the crypto industry and the development of new technologies continue to bridge traditional and decentralized financial structures. Broad participation from politicians and investors indicates the industry's prospects.
