Crypto is red today. Banks are tokenizing deposits. The SEC opened the door to tokenized stocks. Card payments are settling in stablecoins. At what point do we stop calling this adoption and admit crypto is becoming the financial system?

the SEC exemption requires tokenized stock to carry the same dividend and voting rights as a real share, with caps on symbols, halts matched to the underlying, and the venue being a US person under sanctions compliance. that's equities law extended onto new rails