📐 Decoupling Formulation
The Decoupling Coefficient measures the degree to which digital asset returns are explained by non-statutory organic capital flows (M2 global expansion, ETF continuous inflows, network fee capture) versus domestic legislative progress.
- High (>0.70): "The market moves with or without the Act" holds true; global liquidity buffers legislative failure.
- Moderate (0.40–0.70): Exchange listings and banking custody depend on domestic statutory definitions.
- Low (<0.40): Capital formation is severely bottlenecked by domestic regulatory posture.