The SEC is making strides in on-chain markets with Chair Gary Gensler advocating for tokenized securities to modernize U.S. financial systems. A new DTC pilot program facilitates the transfer of tokenized assets to digital wallets, enhancing settlement efficiency and transparency. This initiative reflects a broader strategy to reduce financial intermediaries. Simultaneously, the House Financial Services Committee is pushing for the inclusion of Bitcoin in 401(k) retirement plans, following an executive order by Trump in 2025. This move underscores a growing legislative interest in expanding retirement investment options to include cryptocurrencies.