US Regulatory Breakthroughs and Institutional Practices
In 2026, the United States has made significant progress in public blockchain capital markets. On the regulatory front, the US Congress is advancing the GENIUS Act while the SEC and CFTC have jointly issued guidance, providing a clearer framework for compliant use of digital assets in capital markets. On the institutional practice side, Wall Street giants such as J.P. Morgan and State Street are executing real transactions on the Solana blockchain, signaling traditional finance's deep integration with public blockchain infrastructure. These developments together push the concept of a public blockchain-based capital market from theory toward reality.
Strategic Window for Asian Institutions
Facing this structural shift in the US, Asian institutions find themselves in a strategic window. Different regions exhibit varying degrees of regulatory maturity, and Asian investment institutions need to follow up pragmatically in phases based on local policy environments. Early movers may gain a first-mover advantage in the global competition of public blockchain capital markets. Going forward, cross-border compliance, custody services, and exchange licensing will become key areas for Asian institutions' deployment.