{"content":"The Quiet Regime Change A Fed governor just reclassified crypto .. from speculation to infrastructure. When the central bank says it’s “woven into the fabric,” the debate ends. You’re not an asset class; you’re a rail. From here on, policy prices risk, not existence. What that sentence unlocks • Dollar-as-an-app: stablecoins become Eurodollars 2.0—24/7, programmable, borderless. • Collateral stack upgrade: BTC/ETH move from tradeables to balance-sheet collateral; rehypothecation goes on-chain. • FX = code: cross-border settlement shifts from SWIFT queues to blockspace, compressing the OODA loop of global trade. • Reg playbook flips: Basel for wallets, not bans; disclosure for issuers, not denial. Money is a message bus. The Fed just admitted the new internet carries it better. History turns on nouns .. rail, fabric, standard. That’s today. Falsifiable next checks 1. H.4.1/H.6 stats add tokenized deposits/stablecoin line items. 2. A Treasury pilot settles on an L2 or permissioned chain. 3. GSIBs publish on-chain reserve attestations. From outlaw to infrastructure in one sentence. The internet of balance sheets is here.","images":["https://d35imkjvkj28kt.cloudfront.net/uploadfile/article/blog/2025102025/10/22/4bb9fc4de1ed4d48986feac540a484a6.png"],"tags":[],"tradingPairs":["ETH/USDT"],"quotearticleid":0}