While Wall Street giants have historically approached crypto with raised eyebrows and nervous laughter, the game has changed. The GENIUS Act, signed into law on July 18, 2025, has finally given traditional banking the regulatory clarity it’s been begging for. And boy, did Congress deliver – with a resounding bipartisan thumbs-up that saw the Senate vote 68-30 and the House 308-122.
Bank of America’s CEO isn’t wasting any time jumping on the crypto bandwagon. After years of “we’ll see” and “maybe later,” major financial institutions are suddenly scrambling to integrate crypto payments and settlement systems. The push for non-anonymized transactions has become a key focus for banking acceptance. Smart contracts now power most of their automated lending services, eliminating the need for traditional intermediaries. Funny how clear rules can change minds so quickly.
Wall Street’s old guard finally embraces crypto, proving regulation was all they needed to join the digital revolution.
The numbers tell the story. About 65 million Americans now own some form of crypto – double the number from 2021. And they’re not just dipping their toes in; 67% plan to boost their holdings in 2025. Bitcoin’s been on a tear, leaving the S&P 500 in the dust and hitting new all-time highs. With total crypto market cap reaching $3.33 trillion by late 2024, some wealth advisors are throwing around numbers like $130,000 per Bitcoin. Sure, why not?
Wall Street firms are going all-in, pouring money into blockchain infrastructure and hiring crypto experts faster than you can say “distributed ledger.” They’re launching pilot programs for stablecoin settlement systems and forming partnerships to explore crypto innovation. It’s like watching your stuffy uncle suddenly discover TikTok and become an influencer.
But it’s not all sunshine and rainbows. About 40% of crypto holders are still worried about security and getting their money out of custodial platforms. Fair enough – the crypto world has seen its share of disasters. Yet with traditional banks now entering the space under clear federal oversight, those concerns might start fading.
The GENIUS Act has fundamentally given Wall Street’s suits permission to play in the crypto sandbox. And play they will – with institutional-grade tools, compliance frameworks, and enough regulatory backing to make even the most conservative banker smile. Welcome to the future, Wall Street. Better late than never.
