PANews, July 16 - According to CoinDesk, asset management company Bitwise stated that the upcoming cryptocurrency legislation in the United States is expected to drive digital assets into the mainstream market. Bitwise pointed out that clearer regulations will enable large financial institutions such as JPMorgan, Bank of New York Mellon, and Nasdaq to fully engage in the cryptocurrency space, bringing in billions of dollars in new investments and facilitating the migration of trillions of dollars in traditional assets to blockchain. Bitwise also mentioned that the frequent blow-ups in the cryptocurrency industry in the past were mainly due to a lack of regulation, and the passage of legislation is expected to reduce extreme volatility and risk. Additionally, the GENIUS Act received bipartisan support in the Senate with a vote of 68 to 30, indicating a reduction in political resistance, and Wall Street along with mainstream institutions are accelerating their entry into the market. In the future, cryptocurrency assets will be deeply embedded in the financial system and it will be difficult to reverse this trend.
