The focus in 2026 is not just on how the Federal Reserve will cut interest rates or expand its balance sheet; investors should pay more attention to the shift in attitude of US regulatory agencies towards the banking industry. Recently, the Federal Reserve's regulatory authorities have sent a clear signal to Congress — bank regulation is entering a loosening phase. Specifically, there are two areas worth noting: first, the implicit capital requirements in the Federal Reserve's stress testing framework have obvious room for downward adjustment. Second, the additional capital buffers required for globally systemically important banks (G-SIBs) are expected to be relaxed. These series of adjustments imply that the capital adequacy ratio restrictions for large US banks will gradually be eased, which could have a profound impact on financial market liquidity and the financing environment for cryptocurrencies.