U.S. Structural Shift: Regulatory Breakthroughs and Institutional On‑Chain Practices
In 2026, the U.S. internet capital market is undergoing a structural transformation. On the regulatory front, the GENIUS Act (stablecoin framework) and joint SEC/CFTC guidance (crypto asset classification) provide clearer rules. On the institutional front, J.P. Morgan and State Street have begun executing real transactions on the Solana blockchain, signaling that public blockchains are moving from experimentation to mainstream capital market infrastructure.
Asia’s Strategic Window: Phased Approaches Based on Local Regulatory Maturity
For Asian institutions, the current period represents a limited strategic window. Regulatory environments vary significantly—some jurisdictions have issued clear rules while others remain in wait‑and‑see mode. Asian institutions should follow a phased, pragmatic path: first participate in compliant pilot projects, then gradually expand on‑chain asset allocations, avoiding aggressive moves that could invite regulatory backlash.