On December 31, David Duong, Head of Investment Research at Coinbase, wrote, "Despite the recent somewhat lackluster performance of cryptocurrency prices, this remains an extraordinary and transformative period for the crypto ecosystem. I believe the core characteristics of this asset class remain the continued acceleration of institutional adoption and the broader, more diversified investor structure reshaping overall demand. In other words, the full potential of the crypto industry is still far from being fully realized."
One of the key factors driving the crypto industry from a niche market to an emerging pillar of global financial infrastructure is the evolving regulatory environment. As global regulatory frameworks become clearer, the US is moving towards more explicit regulations and market structures for stablecoins, while Europe is advancing and integrating MiCA regulations. The way institutions develop strategies, manage risks, and comply with regulations is fundamentally changing.
The direct result is true operational readiness: clearer policy safeguards create realistic conditions for product innovation, market maturity, and the deep integration of cryptocurrencies into payment and clearing systems. This forms the cornerstone for building the next phase of institutional adoption.
