Crypto for Advisors: Wall Street is done waiting on Congress for crypto rules
Financial firms are increasingly building their own compliance and infrastructure frameworks for digital assets as U.S. federal regulation remains stalled. Industry experts emphasize that firms are prioritizing operational readiness over waiting for legislative clarity from Congress.
Why it matters
The lack of federal crypto regulation forces private firms to adopt fragmented, costly compliance strategies, impacting the broader financial services sector.
In today’s newsletter, Eric Soufer of Tusk Strategies looks at what financial firms are building while Congress stalls on a crypto framework.
Then, in “Ask an Expert,” Diego Grassano explains what advisors should check before trusting a tokenized platform.
Without a federal framework, financial firms are standardizing compliance and infrastructure on their own.
When the Senate failed to advance the CLARITY Act on Sept. 15, the U.S. was once again left without a comprehensive federal framework for digital assets, and regulators moved to fill part of the gap . Two days later, the SEC issued an “ innovation exemption ” allowing certain venues to trade tokenized U.S.-listed stocks onchain.
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