Key Takeaways

• Traditional banks are innovating on crypto rails while trying to manage disruption from new entrants.
• There’s a significant disconnect between institutional investment in crypto and the disillusionment of retail investors.
• Banks are building crypto infrastructure while their lobbyists obstruct regulatory clarity.
• The clarity act has a very low chance of passing due to ongoing political disagreements.
• If a coherent deal isn’t reached by April, the blockchain regulatory clarity act may not pass.
• The clarity act could potentially serve as a trojan horse for the banking industry.
• The clarity act includes the greatest expansion of the Patriot Act’s financial surveillance powers since 2001.
• Crypto is…