#加密圆桌会议要点 This roundtable marks a new stage in the clarification of rules and predictable compliance for cryptocurrency regulation in the United States. In the short term, the SEC's policy shift may attract more institutional funds into the crypto market (such as major players like BlackRock accelerating their layout of ETFs and staking products) and drive the construction of tokenized financial infrastructure. In the long term, the clarification of the regulatory framework will promote global cooperation in crypto governance (such as mutual recognition of MiCA and SEC rules), but issues such as the deadlock in stablecoin legislation and unclear compliance pathways for DeFi still need to be further addressed.