Alex Thorn, Head of Firmwide Research at Galaxy Digital, dives into the rapid institutional adoption of Bitcoin, emphasizing the recent $54 billion surge in ETF inflows. He discusses how corporate treasuries are increasingly buying BTC and the potential of upcoming policy shifts to unlock trillions in capital. The conversation also touches on the implications of the Tornado Cash verdict for privacy tools and cryptocurrency regulation, highlighting a pivotal moment for Bitcoin as it moves closer to becoming a global reserve asset.
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insights INSIGHT
Non-Custodial Tools Face Legal Risk
The jury convicted Roman Storm only on an unlicensed money transmission charge while acquitting or hanging on laundering and sanctions counts.
The verdict implies courts may treat non-custodial software as transmitting funds, creating risky precedents for privacy tools.
insights INSIGHT
Control Is Central To Money Transmission
If transmitting requires custody or control, non-custodial tools shouldn't be money transmitters under the BSA.
Judge Fela's contrary ruling narrows legal clarity and likely fuels appeals and legislative fixes.
insights INSIGHT
Privacy Versus Surveillance Is Ongoing
The Roman Storm outcome highlights a persistent tension between privacy advocates and U.S. financial surveillance priorities.
AML, KYC, and national-security priorities remain deeply entrenched despite some pro-crypto policy moves.
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Institutional Bitcoin adoption is accelerating — with record ETF inflows, corporate treasuries buying BTC, and policy shifts that could open trillions in capital flows. In this episode of Bitcoin Policy Hour, special guests Alex Thorn and Stephen Pollock join the show to break down the $54B surge into Bitcoin ETFs, the growing list of Bitcoin treasury companies, and Washington’s moves on banking access and 401(k) modernization.We also cover the Tornado Cash verdict and what it means for privacy tools, money transmission laws, and the future of crypto regulation. From Wall Street to Washington, Bitcoin’s path to becoming a global reserve asset is taking shape.⭐ Join Bitcoin Magazine @ Bitcoin Asia 2025, Aug. 28-29 in Hong Kong! Get your tickets at: https://asia.b.tc/ today! 🔶 Connect with Stephen Pollock on X: https://x.com/spollockbtc🔶 Connect with Zack Shapiro on X: https://x.com/zackbshapiro🔶 Connect with Alex Thorn on X: https://x.com/intangiblecoins🔶 Learn more about the Bitcoin Policy Institute: https://www.btcpolicy.org/Chapters:00:00 - Intro - The TradFi Perspective01:13 - Roman Storm Case Verdict and Legal Implications09:47 - Broader Implications of Money Transmission Laws on Crypto Tools13:25 - FinCEN Guidance on Privacy Tools and Its Impact15:47 - Samurai Wallet Case and Judicial Environment22:01 - Sentencing, Appeals, and Legal Process Timelines24:50 - Global Privacy and Internet Safety Legislation Context26:27 - Executive Orders: Debanking and Its Impact on Crypto33:37 - Executive Order on 401(k) Modernization and Alternative Assets45:38 - Discussion on 401(k) Plans, Fiduciary Responsibilities, and Crypto Inclusion50:15 - Lightning Round: TradFi Bitcoin Adoption and ETF Flows52:15 - ETF In-Kind Redemption56:18 - 80k BTC Sale: An Inside Look59:44 - Quantum Computing and Bitcoin's Future Security Challenges63:16 - Closing Remarks and Thanks#Bitcoin #CryptoPolicy #BitcoinETFs #InstitutionalAdoption #BitcoinTreasury #401k #OperationChokepoint #TornadoCash #BTC #BitcoinNews #BitcoinPolicyHourDISCLAIMER: The views and opinions expressed in this show are those of the participants and do not necessarily reflect the official policy or position of BTC Inc., Bitcoin Magazine, or any affiliated entities. This content is provided for informational and educational purposes only and should not be construed as investment, legal, tax, or accounting advice. Nothing contained in this show constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or financial instruments. Viewers should consult their own advisors before making financial or business decisions.
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