The emergence of the #数字资产法案 Digital Asset Act is undoubtedly a key moment in the development of the digital asset ecosystem. The passage of the U.S. FIT21 Act, which clearly delineates the responsibilities of regulatory agencies, provides a clear path for digital asset regulation, ending the long period of regulatory chaos in the industry. We see its positive significance for the construction of market order. The U.K.'s legislation that includes cryptocurrencies and other digital assets under personal property categories provides strong legal protection for investors, greatly enhancing market confidence.

Although these acts each have their highlights, they also face challenges. For example, the lack of uniform standards in some state-level acts can create regulatory arbitrage opportunities, allowing some criminals to take advantage. Additionally, issues such as the severe price volatility and technological security risks inherent in digital assets mean that current legislation is still not sufficiently comprehensive in its responses.