I just returned from SmartCon 2025 at the Metropolitan Pavilion in NYC (Nov 4-5), and I need to share what I witnessed. As someone from traditional finance, this event fundamentally changed my perspective on blockchain’s institutional future.
What Made This Different
The “From Crypto to Capitol Hill” theme wasn’t marketing - it was reality. The attendee list read like a who’s who of traditional finance:
- JPMorgan Chase showcasing their Kinexys platform (rebranded from Onyx)
- Swift discussing blockchain integration for 11,000+ institutions globally
- DTCC presenting on securities settlement evolution
- Citibank demonstrating tokenized deposit capabilities
- Fidelity and BlackRock deep in capital markets discussions
- Chainlink announcing the Chainlink Runtime Environment (CRE)
Government Participation Was Unprecedented
This wasn’t crypto people talking to themselves:
- U.S. Representative Bryan Steil participated actively
- Patrick Witt from the White House Digital Assets Advisory Council
- David Mills, Senior Deputy Director at the Federal Reserve
- Real policy discussions, not just advocacy
The UBS Milestone
UBS announced their tokenized money market fund has surpassed $375 million on blockchain. This isn’t a pilot - it’s production at scale.
Key Announcements:
- Chainlink Runtime Environment (CRE) - Unified development platform for cross-chain applications
- AI-Powered Oracles - Confidential compute integration announced
- Stablecoin Regulatory Clarity - Post-GENIUS Act environment discussed extensively
- Cross-Chain Interoperability - CCIP and LayerZero adoption growing
My Takeaway
We’ve crossed the chasm from “blockchain experimentation” to “institutional infrastructure.” The conversations weren’t about if but how and when.
What are others seeing in the market? Is your institution exploring these technologies?
#SmartCon2025 #NYBW2025 #InstitutionalAdoption #Blockchain
The government participation at SmartCon signals a fundamental shift in Washington’s approach to blockchain technology. I’ve been tracking this evolution closely from a policy perspective.
“From Crypto to Capitol Hill” - What Changed
Three years ago, crypto hearings were adversarial. Today, we’re seeing:
- White House Engagement: Patrick Witt’s participation from the Digital Assets Advisory Council shows executive branch buy-in
- Federal Reserve Involvement: David Mills (Senior Deputy Director) discussing blockchain openly
- Congressional Participation: Rep. Bryan Steil actively engaging, not just observing
- Constructive Dialogue: Focus on “how to regulate” not “whether to allow”
Post-GENIUS Act Environment
The GENIUS Act (passed earlier this year) created regulatory clarity for stablecoins:
- Bank-issued stablecoins have clear legal framework
- Private stablecoin issuers can get licensed
- AML/KYC requirements standardized
- State-level licensing pathways defined
This is why we’re seeing $5+ trillion in stablecoin transaction volume in H1 2025.
What SmartCon Revealed About Policy Direction
- Tokenized Assets: SEC and CFTC coordination improving
- Cross-Border Payments: Treasury supportive of blockchain rails
- CBDC Exploration: Fed researching but moving cautiously
- Securities Framework: FIT21 market structure bill gaining traction
The Capitol Hill Strategy
Blockchain projects are learning to engage like mature industries:
- Hiring former regulators and congressional staffers
- Providing technical education to policymakers
- Self-regulatory organization discussions
- Proactive compliance frameworks
What’s Next
Watch for:
- FIT21 vote (market structure for digital assets)
- Staking regulation clarity (expected Q1 2026)
- Custody rule updates from SEC
- Cross-border stablecoin framework
The industry that works with regulators will thrive. SmartCon showed both sides ready to collaborate.
#Policy #Regulation #GENIUS #FIT21