2025 could be remembered as the most consequential year for finreg in the US since 1933 1933: - Glass-Steagal forms FDIC, separates investment and commercial banking - ‘33 Securities Act creates modern disclosure regime 2025: - GENIUS brings about narrow banking - SEC embraces tokenization, disclosure around token issuance, validates on-chain markets for securities

I’m still digesting Atkins’ speech but I do have a post on GENIUS and narrow banking coming soon on my Substack!