US crypto bill likely dead for the year per Nikkei. Immediate selloff in $BTC and crypto stocks.
Real concern? Stablecoin market impact. If regulatory clarity gets pushed to 2026, expect:
- Offshore issuers to keep eating US market share
- TradFi banks staying sidelined
- More regulatory arbitrage plays
Market already pricing in delay. Watch $USDC / $USDT dominance shifts and any sudden depegs as liquidity tightens into year-end.
Real concern? Stablecoin market impact. If regulatory clarity gets pushed to 2026, expect:
- Offshore issuers to keep eating US market share
- TradFi banks staying sidelined
- More regulatory arbitrage plays
Market already pricing in delay. Watch $USDC / $USDT dominance shifts and any sudden depegs as liquidity tightens into year-end.