This roundtable meeting marks a new phase in the United States' crypto regulation, characterized by clearer rules and predictable compliance. In the short term, the SEC's policy shift may attract more institutional funds into the crypto market (as giants like BlackRock accelerate their deployment of ETFs and staking products) and promote the construction of tokenized financial infrastructure. In the long term, the clarity of the regulatory framework will facilitate the coordination of global crypto governance (such as the mutual recognition of MiCA and SEC rules), but issues such as the legislative deadlock on stablecoins and the unclear compliance path for DeFi still need to be addressed.