Is Wall Street Souring on Crypto?

The 2022 crypto crash has led to significant policy concerns, with the Chicago Fed noting a classic financial crisis in a novel setting. The SEC has resisted immediate regulatory changes despite Coinbase's petition, citing existing securities laws. However, the SEC has increased enforcement actions against crypto firms, causing market adjustments. Companies like Coinbase and Galaxy Digital are expanding internationally, while financial giants continue to invest in crypto. Despite pressures, the industry shows resilience with new products and partnerships.

What steps are companies like Galaxy Digital taking in response to US laws?

How is the current state of the crypto market on Wall Street described in the text?