New framework ushers in regulatory clarity, institutional confidence, and a sustainable digital asset cycle
U.S. enters its most mature crypto phase with new legislation
Global investment firm Bernstein has declared that the United States is emerging as the world’s crypto capital, following the enactment of two landmark regulatory bills — the GENIUS Act and the forthcoming CLARITY Act.
In a recent market report, Bernstein analysts said these measures have transformed the digital asset landscape, bringing long-awaited regulatory certainty and unlocking institutional participation at unprecedented levels.
The GENIUS Act, now officially law, has accelerated stablecoin adoption, driving the supply of U.S. dollar–backed stablecoins beyond $260 billion. Meanwhile, the CLARITY Act, expected later this year, will define market structure by dividing oversight responsibilities between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) — resolving years of ambiguity that previously hindered growth.
Project Crypto: Integrating Wall Street and blockchain
At the center of this transformation is SEC Chair Atkins’ “Project Crypto”, described by Bernstein as “the most ambitious initiative yet to merge securities markets with blockchain infrastructure.”
The initiative aims to classify most digital assets outside traditional securities law, allowing the tokenization of stocks, bonds, and real-world assets under a unified regulatory umbrella. Licensed broker-dealers would be able to handle both digital and traditional instruments, enabling 24/7 settlement and onchain trading with reduced costs and enhanced transparency.
Bernstein noted that this framework not only restores innovation but also reduces political risk, paving the way for a long-term institutional buildout in the U.S. crypto economy.
Institutional momentum reshapes digital finance
According to Bernstein, crypto ETFs now hold over $160 billion in assets, with institutions accounting for nearly one-quarter of investors. The digital asset IPO market has also surged, raising $4 billion since January 2025, while the market capitalization of publicly traded crypto firms has soared from $80 billion in early 2024 to $380 billion.
Notably, Coinbase (COIN) and Robinhood (HOOD) have both entered the S&P 500, signaling the integration of crypto-native firms into the core of U.S. equity markets.
A sustainable crypto cycle driven by clarity and capital
Bernstein concluded that the U.S. is entering a new, more sustainable crypto cycle, defined by clear regulations, institutional capital, and blockchain integration across capital markets.
“This is the first time the U.S. digital asset market is operating under a cohesive, long-term framework,” the report stated. “Regulatory certainty and infrastructure modernization are setting the foundation for the next decade of crypto-driven financial innovation.”
With the GENIUS and CLARITY Acts, America has not only legitimized the crypto sector — it has positioned itself as the global epicenter of regulated digital finance.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.