Wall Street’s crypto plans depend on clear federal rules

Big investors won’t touch blockchain assets until the government sets solid rules. At a Miami tech conference, O’Leary said most Wall Street firms still see crypto as too risky because laws are unclear. Many banks are testing tokenization—turning stocks and bonds into digital tokens that trade instantly. The idea is faster settlements and lower fees. But without clear regulations, big money stays away. O’Leary pointed to stablecoins as proof. Once U. S. laws passed, companies started using them for quick, cheap international payments. Before that, cross-border deals took days.He also said most crypto’s value comes from just two coins: Bitcoin and Ethereum. Smaller tokens have lost nearly all their worth. This split shows how serious projects focus on real business use, like tracking shipments or managing contracts, over quick trading. O’Leary believes the future of blockchain isn’t about coins—it’s about the platforms companies pick for daily operations. The one that becomes standard for things like supply chains or smart contracts will win. Infrastructure like energy and data centers may matter even more than the crypto itself, he said.