We’ve watched Wall Street lobby against crypto for a decade, but what happened in April was a masterclass in regulatory weaponization. Three U.S. federal agencies moved on digital assets within two weeks:
The Signal: Washington is building a three-layer regulatory stack for digital assets in real time. Layer one (GENIUS Act) sets the charter. Layer two (OCC/Treasury rules) sets the operating requirements. Layer three (CLARITY Act) draws the line on business models. All three layers share a single design principle: digital assets get regulated access to institutional capital, but yield belongs to banks.
