Claridad en la regulación de las criptomonedas en los Estados Unidos y su adopción institucional: ¿Cómo podría el RFIA de 2026 cambiar la liderazgo del mercado?

The 2026 Responsible Financial Innovation Act (RFIA) represents a watershed moment for the U.S. digital asset sector, offering a regulatory framework that could catalyze institutional adoption while redefining the competitive dynamics between traditional banks and crypto-native firms. By addressing long-standing ambiguities around asset classification, staking incentives, and consumer protections, the RFIA creates a fertile ground for institutional capital to flow into crypto markets. This analysis explores how the bill's provisions align with institutional priorities and why U.S. crypto firms may emerge as beneficiaries of this regulatory clarity.

Staking Invoices: A Tax-Deferred Path to Institutional Participation

One of the RFIA's most impactful provisions is the deferral of income taxes on staking rewards until assets are disposed of according to a client alert. This change directly addresses a key barrier to institutional participation: the immediate tax liability on staking rewards, which complicates cash flow management and reduces net returns. By aligning staking incentives with traditional investment vehicles, the RFIA makes crypto staking a more attractive option for pension funds, endowments, and other long-term investors.

For example, institutional investors now have a clearer path to monetize their holdings through staking without triggering premature tax obligations. This mirrors the tax treatment of dividends in traditional equities, a critical factor in institutional decision-making. As noted by a 2026 Grayscale report, this provision is expected to accelerate the adoption of proof-of-stake (PoS) assets like Ethereum, which already see growing institutional interest.

Asset Classification: Resolving Jurisdictional Chaos

The RFIA's resolution of the SEC-CFTC jurisdictional dispute-favoring the CFTC for retail digital asset transactions- provides much-needed clarity on asset classification. This shift reduces regulatory arbitrage and creates a unified framework for market participants. For institutions, this means reduced compliance costs and a more predictable environment for product development.

Traditional banks, which have historically hesitated to enter crypto markets due to regulatory uncertainty, are now exploring tokenized deposit products and stablecoin-based settlement tools. JPMorgan and Citi, for instance, have launched custody solutions for institutional clients, leveraging the RFIA's framework to offer crypto services without exposing themselves to conflicting regulatory demands. Meanwhile, crypto-native firms benefit from a commodity-based regulatory model that prioritizes innovation over restrictive securities laws, a stance that aligns with their operational ethos.

Consumer Protections: Building Trust Without Stifling Innovation

The RFIA's consumer protection mandates-such as requiring exchanges to disclose source code changes and segregate customer assets- enhance transparency without imposing burdensome restrictions on innovation. These measures address retail investor concerns while reassuring institutional investors about the integrity of the underlying infrastructure.

For example, the requirement for digital asset service providers to outline permissible transactions in customer agreements reduces the risk of fraud. This is particularly critical for institutional investors, who rely on robust custodial and settlement systems. As Bloomberg Law notes, these safeguards are expected to drive broader adoption of crypto ETFs and tokenized real-world assets (RWAs), which now manage over $8 billion in assets.

Competitive Advantages for U.S. Crypto Firms

The RFIA's regulatory clarity positions U.S. crypto firms to outcompete traditional banks in several key areas. First, the bill's emphasis on commodity-based regulation under the CFTC allows crypto firms to innovate rapidly, avoiding the rigid compliance frameworks that constrain traditional banks. Second, the integration of stablecoins into financial infrastructure- accelerated by the RFIA and the GENIUS Act-creates opportunities for U.S. firms to dominate global payment rails.

Moreover, the RFIA's alignment with Basel Committee prudential standards enables banks to hold crypto assets on their balance sheets without excessive capital reserves. However, crypto-native firms retain an edge in speed and agility. For instance, venture capital investment in U.S. crypto infrastructure hit $7.9 billion in 2025 alone, funding innovations like agentic AI-driven trading platforms and prediction markets that traditional banks struggle to replicate.

Market Projections and Institutional Capital Flows

Expert projections suggest that the RFIA will unlock significant institutional capital. By 2026, over 5% of institutional assets under management (AUM) are expected to be allocated to crypto, driven by the approval of spot Bitcoin and Ethereum ETFs managing $115 billion in combined assets. The tokenization of U.S. Treasuries and commodities, facilitated by the RFIA's market structure reforms, further expands the appeal of digital assets as a bridge between traditional and blockchain-based finance.

Traditional banks, while gaining a foothold in crypto custody and stablecoin issuance, face challenges from crypto-native firms that prioritize decentralization and user autonomy. This tension is evident in the growing preference for DeFi platforms among underbanked communities, who view traditional finance as "slow, costly, and archaic".

Conclusion: A New Era of U.S. Market Leadership

The 2026 RFIA is not merely a regulatory fix-it is a catalyst for institutional adoption and U.S. market leadership in crypto. By harmonizing staking incentives, asset classification, and consumer protections, the bill creates a balanced ecosystem where innovation thrives alongside investor confidence. While traditional banks will benefit from regulatory clarity, U.S. crypto firms are uniquely positioned to capitalize on the RFIA's pro-innovation framework, leveraging their agility and infrastructure expertise to redefine the financial landscape.

As macroeconomic uncertainty persists, the RFIA's provisions ensure that crypto remains a viable alternative to traditional assets, attracting institutional capital that will further solidify the U.S.'s role as the global leader in digital finance.